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LONDON - Geiger Counter Limited, an investment fund, has repurchased 80,000 of its ordinary shares on Wednesday, as part of its ongoing share buyback program. The shares were bought back at an average price of 35.57 pence per share and will be held in Treasury.
This latest transaction is part of a larger repurchase initiative that began following the company’s Annual General Meeting on March 6, 2024. Since then, Geiger Counter Limited has acquired a total of 13,754,549 ordinary shares.
Following the repurchase, the total number of voting rights in the company stands at 132,124,255 ordinary shares, with an additional 20,549,994 ordinary shares held in Treasury. These treasury shares do not have voting rights and are typically repurchased by companies to reduce the number of shares available on the market, which can potentially increase the value of remaining shares.
The share repurchase move by Geiger Counter Limited is part of the company’s capital management strategy. Share buybacks are often employed by companies seeking to return value to shareholders and can reflect management’s belief that the company’s shares are undervalued.
The information regarding this share buyback has been duly provided by RNS, the news service of the London Stock Exchange (LON:LSEG), and is compliant with the regulations of the Financial Conduct Authority in the United Kingdom (TADAWUL:4280).
Investors and interested parties can find more details about Geiger Counter Limited on the company’s website. However, it is important to note that this article is based on a press release statement and does not include any promotional content or endorsement of the company’s actions.
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