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LONDON - Geiger Counter Limited, the investment company, has repurchased 1 million of its ordinary shares on Thursday, as part of its ongoing share buyback program. The shares were acquired at an average price of 39.387 pence per share and will be held in Treasury.
This latest transaction is part of a series of buybacks following the company’s Annual General Meeting on March 5, 2025. Since that date, Geiger Counter Limited has bought back a total of 13,081,960 ordinary shares.
After this recent purchase, the total number of voting rights in the company stands at 120,447,742 ordinary shares, with an additional 32,226,507 ordinary shares held in Treasury.
Share buybacks are a common strategy used by companies to return value to shareholders, as they can potentially increase the value of the remaining shares. By reducing the number of shares available on the market, the earnings per share may increase, which can lead to a higher stock price.
The company’s actions align with the authorized program approved by shareholders, indicating a possible confidence in the current value of the company’s stock and its future prospects.
Geiger Counter Limited’s operations and investment focus are detailed on its website, providing additional information for interested parties.
This buyback initiative is part of the company’s capital management strategy and has been officially reported to the London Stock Exchange (LON:LSEG). The information regarding this share repurchase has been provided by RNS, the exchange’s news service, and is regulated by the Financial Conduct Authority in the UK.
Investors and market watchers often view share buybacks as a signal of the company’s financial health and management’s belief in the intrinsic value of the company. It remains to be seen how this move will affect the company’s stock performance in the long term.
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