LONDON - Geiger Counter Limited, a specialist investment company, has bought back 100,000 of its ordinary shares, the company announced on January 21, 2025. The transaction, which took place on January 20, saw the shares repurchased at an average price of 50.85 pence each. These shares will now be held in Treasury.
Since the Annual General Meeting on March 9, 2023, Geiger Counter Limited has acquired a total of 14,895,948 ordinary shares under its share repurchase program. Following the recent buyback, the company's total number of ordinary shares with voting rights stands at 137,773,399, in addition to the 14,900,850 shares held in Treasury.
Share buybacks are a common strategy employed by companies to return value to shareholders, potentially boosting the stock price by reducing the supply of shares available on the market. The repurchased shares can be held by the company for future use, such as for employee compensation plans or to be reissued at a later date.
Geiger Counter Limited focuses on investments in the uranium sector, which has seen increased interest due to the global shift towards cleaner energy sources and the role of nuclear power in reducing carbon emissions. The company's investment strategy and portfolio details are publicly available on its website.
This share repurchase forms part of Geiger Counter Limited's ongoing efforts to manage its capital effectively. The company has not disclosed any additional details regarding future buyback plans or potential impacts on its financial strategy.
The information regarding this share buyback is based on a press release statement.
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