LONDON - Geiger Counter Limited has reported the buyback of 70,000 of its ordinary shares on Wednesday, at an average price of 47.06 pence per share. The repurchased shares are to be held in the company's Treasury. This latest transaction is part of an ongoing share repurchase program following the authorization given at the Annual General Meeting on March 9, 2023.
Since the meeting, the company has bought back a total of 13,226,948 ordinary shares. After this recent purchase, Geiger Counter Limited now has 139,442,399 ordinary shares with voting rights in circulation, in addition to the 13,231,850 shares held in Treasury.
The share buyback is a part of the company's strategy to manage its capital effectively. Companies often buy back shares to reduce the number of shares on the market, which can increase the value of remaining shares if the company's market valuation remains constant.
This information is based on a press release statement from the company and has been made available through RNS, the news service of the London Stock Exchange (LON:LSEG). The Financial Conduct Authority has approved RNS as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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