LONDON - Geiger Counter Limited, a specialist investment company, has announced the repurchase of 135,000 of its ordinary shares on Thursday, December 6, 2024. The shares were bought back at an average price of 53.07 pence per share and are to be held in Treasury.
This recent transaction is part of an ongoing share repurchase programme that the company has been conducting. Since the Annual General Meeting on March 9, 2023, Geiger Counter Limited has repurchased a total of 12,344,543 ordinary shares. Following this latest buyback, the company now has 140,324,804 ordinary shares with voting rights in circulation, alongside 12,349,445 ordinary shares held in Treasury.
The share repurchase program is a common strategy employed by companies seeking to reduce the number of shares in circulation, which can potentially increase the value of remaining shares and provide a return of value to shareholders.
The company's decision to buy back shares follows established market practices and is often interpreted as a signal of the management's confidence in the company's financial health and future prospects. Share buybacks can also improve financial ratios, such as earnings per share, since the overall number of shares outstanding is reduced.
Investors and stakeholders can find more detailed information about Geiger Counter Limited and its financial activities on the company's website. This latest development in the company's financial strategy is based on a press release statement and has been reported in accordance with the regulations of the London Stock Exchange (LON:LSEG), where the company's shares are traded.
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