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LONDON - UK transport operator FirstGroup plc has completed the first tranche of its £50 million share buyback program, purchasing 15,703,358 ordinary shares for a total of £25 million, the company announced Monday. These shares are now being held in Treasury.
The buyback initiative, which was first unveiled on November 14, 2024, aims to return value to shareholders by reducing the number of shares in circulation, potentially increasing the value of remaining shares.
Following the completion of the first tranche on February 7, 2025, the company has initiated the second tranche of the buyback program, with Panmure Liberum Limited managing the process starting today. The second tranche will also involve the purchase of up to £25 million worth of shares under the same terms as the first.
FirstGroup’s share buyback program is conducted on-market, meaning the shares are purchased on the stock exchange rather than directly from shareholders. This method is often used by companies looking to efficiently manage their capital structure.
The completion of the first tranche and the commencement of the second were carried out in accordance with the UK Listing Rules and applicable laws, ensuring transparency and regulatory compliance.
Investors are reminded that forward-looking statements regarding the company’s future financial performance are subject to risks and uncertainties and should not be seen as guarantees of future performance or results.
This news is based on a press release statement from FirstGroup plc, and it reflects the latest developments in the company’s ongoing efforts to manage its capital and deliver shareholder value.
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