LONDON - Geiger Counter Limited has reported the buyback of 100,000 of its ordinary shares on December 04, 2024, at an average price of 52.01 pence per share, as part of its ongoing share repurchase program. The acquired shares are to be held in Treasury.
Since the company's Annual General Meeting on March 9, 2023, Geiger Counter has repurchased a total of 12,184,543 ordinary shares. Following the latest transaction, the company has 140,484,804 ordinary shares with voting rights in circulation, alongside 12,189,445 ordinary shares held in Treasury.
The buyback reflects Geiger Counter Limited's continued efforts to manage its capital effectively. Share repurchase programs are often used by companies to return value to shareholders, as reducing the number of shares outstanding can increase earnings per share and potentially improve share price performance.
The information about the share buyback was released through RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement by Geiger Counter Limited. The company has not disclosed any additional strategic intentions behind the share repurchase initiative.
Investors and interested parties can find more details about the company on its website. The share buyback is a financial maneuver that is subject to the terms and conditions of market regulations, as overseen by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280).
As the market processes this development, Geiger Counter Limited's stock performance and investor reaction remain to be observed. Share buybacks are a common strategy employed by public companies, and Geiger Counter's recent activity adds to the ongoing narrative of corporate share repurchase programs within the broader market.
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