LONDON - Geiger Counter Limited has announced the buyback of 194,000 of its ordinary shares on Monday, at an average price of 52.92 pence per share. The repurchased shares are to be held in Treasury. This latest transaction is part of an ongoing share repurchase program that the company has been executing since its Annual General Meeting on March 9, 2023.
To date, Geiger Counter Limited has bought back a total of 12,538,543 ordinary shares under this program. Following the recent purchase, the company now has 140,130,804 Ordinary Shares with voting rights in issue, in addition to the 12,543,445 Ordinary Shares held in Treasury.
Share buybacks are a common strategy used by companies to return value to shareholders, as they can potentially increase the value of remaining shares by reducing the supply. However, the practice can also be seen as a way for a company to invest in itself, reflecting its own belief that its shares are undervalued.
The information on this share buyback is based on a press release statement and does not include any promotional content or endorsement of the company's actions. The company has not provided any further details on the strategic reasons behind the buyback or its potential impact on the company's financial health.
Geiger Counter Limited is a company that can be researched further for those interested in its financial strategies and performance. The company's actions, including this share buyback, are in compliance with market regulations and have been duly reported to the financial authorities.
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