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LONDON - Celebrus Technologies plc (AIM:CLBS) announced Tuesday the launch of a share buyback program for up to 500,000 ordinary shares, representing approximately 1% of its issued share capital.
The AIM-listed data solutions provider said the program will commence immediately and run until October 8, 2025, unless the maximum number of shares is reached earlier. Cavendish has been instructed to conduct the buyback on a broker-managed basis, making trading decisions independently of the company.
The buyback will be executed under shareholder authority granted on August 8, 2024, with a maximum purchase price capped at 105% of the average middle market closing price for the five business days preceding any buyback.
Celebrus intends to hold all repurchased shares in treasury to satisfy future obligations related to employee share schemes.
The company noted that due to limited liquidity in its shares, daily buybacks could represent a significant proportion of trading volume on AIM and may exceed 25% of average daily trading volume.
The current buyback authority expires at Celebrus’ next annual general meeting, expected on August 20, 2025, at which time the company plans to seek shareholder approval to renew the authority.
Celebrus Technologies, which has been operating for over 25 years, specializes in data solutions for marketing effectiveness and fraud prevention across various industries.
The information was disclosed in a company press release statement.
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