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LONDON - British pub and hotel operator Fuller, Smith & Turner PLC (LSE:FSTA) announced Thursday it has entered into an arrangement with Numis Securities Limited to repurchase up to 1 million "A" Ordinary Shares, following the completion of its previous buyback program initiated on March 14, 2025.
The company stated the new program reflects the board’s view that the current share price represents a significant discount to Fuller’s underlying net asset value. The repurchase initiative is part of the company’s capital allocation framework and aligns with its strategy of long-term sustainable growth.
According to the announcement, the share purchases will be made on Fuller’s behalf in accordance with the arrangement. Any buybacks conducted during closed periods or when the company possesses inside information will be executed independently and without influence from Fuller.
All share repurchases will be carried out on the London Stock Exchange and executed in compliance with Listing Rules and shareholder authorization. The company noted that due to limited liquidity in its "A" Ordinary Shares, daily buybacks may represent a significant proportion of trading volume and could exceed 25 percent of average daily trading volume.
Fuller indicated the program is expected to enhance earnings per share. Any market purchases under the program will be announced no later than 7:30 a.m. on the business day following the transaction.
The announcement was made in a press release statement issued by the company.
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