LONDON - Geiger Counter Limited, a niche investment company, has announced the repurchase of 110,000 of its ordinary shares on Thursday, at an average price of 52.27 pence per share. This latest transaction is part of the company's ongoing share buyback program, which has been in effect since the Annual General Meeting held on March 9, 2023.
The repurchased shares are to be held in Treasury, and with this recent buyback, Geiger Counter Limited has accumulated a total of 11,629,543 ordinary shares since the program's inception. Following the buyback, the company's issued share capital consists of 141,039,804 ordinary shares with voting rights, along with an additional 11,634,445 ordinary shares held in Treasury.
The share buyback reflects the company's strategy to manage its capital efficiently and could potentially signal confidence in its current valuation. Share buybacks are a common practice where a company purchases its own shares from the marketplace, which can reduce the number of outstanding shares and may increase the value of remaining shares if demand remains constant.
Investors and market watchers often view share repurchase programs as a sign that a company's leadership believes its shares are undervalued. The repurchased shares are typically held in the company's treasury and can be used for various purposes, such as future mergers and acquisitions, employee compensation plans, or to improve financial ratios.
This news is based on a press release statement and is intended to provide shareholders and the investing public with the latest information regarding Geiger Counter Limited's share buyback activities. It is essential for investors to consider this information within the broader context of the company's overall performance and market conditions.
The company's actions are in compliance with market regulations, and further details can be found on the company's website. Geiger Counter Limited's management and financial advisors are available for enquiries regarding this announcement.
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