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LONDON - Character Group plc (AIM:CCT), a company specializing in leisure goods, has announced an extension and increase to its Share Buyback Programme. The Board has decided to augment the existing programme by an additional £1.0 million, raising the total to £3.0 million. This decision comes after the company initially launched a £2.0 million buyback plan on October 29, 2024.
Since the start of the programme, Character has repurchased 631,399 Ordinary Shares at an average price of 256 pence per share, amounting to £1,614,215, excluding transaction costs. The company has now extended the buyback’s expiration from today until January 15, 2026, the eve of their anticipated annual general meeting in 2026.
The buyback terms stipulate that the programme will cease if a person or group acting in concert acquires a 29% or greater interest in the voting rights of Character, to prevent a mandatory takeover offer as per the Takeover Code.
Character Group has made it clear that there is no undisclosed price-sensitive information at the time of this announcement. As of May 29, 2025, the company’s total issued share capital consisted of 18,142,999 Ordinary Shares, with an additional 1,983,059 shares held in treasury, making the total voting rights in the company 18,142,999.
The company also reported that it had the capacity to buy back up to 2,308,708 more Ordinary Shares under the authority granted at the Annual General Meeting held on January 17, 2025.
The share buyback program is part of Character’s strategy to manage its share capital efficiently. The company will continue to comply with regulatory requirements by making announcements regarding the repurchase of shares as mandated by UK Market Abuse Regulation (MAR) and the AIM Rules for Companies.
This extension and increase to the Share Buyback Programme is based on a press release statement from Character Group plc.
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