Gold prices edge up amid Fed rate cut hopes; US-Russia talks awaited
LONDON - Geiger Counter Limited, an investment fund, announced the purchase of 595,323 of its own ordinary shares on Tuesday at an average price of 36.59 pence per share, as part of its ongoing share repurchase program. The acquired shares are to be held in Treasury.
This latest transaction follows a series of buybacks since the company’s Annual General Meeting on March 6, 2024. To date, Geiger Counter Limited has repurchased a total of 14,901,358 Ordinary Shares.
After this recent buyback, the company has disclosed that it now has 130,977,446 Ordinary Shares with voting rights in issue, in addition to the 21,696,803 Ordinary Shares held in Treasury.
The share repurchase program is a common strategy used by companies to reduce the number of shares in circulation, potentially increasing the value of remaining shares and providing a return of capital to shareholders.
The company’s actions reflect a broader trend in the market where businesses opt to invest in their own stock, often seen as a signal of self-confidence in their financial health and future prospects.
Geiger Counter Limited has not provided further details on the objectives behind the repurchase program. The company’s website offers additional information for interested parties.
The announcement was made through RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement from the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.