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LONDON - Geiger Counter Limited has completed the repurchase of 584,624 of its ordinary shares on Wednesday, at an average price of 37.00 pence per share, the company announced today. These shares are to be held in Treasury following the transaction.
This latest repurchase is part of a broader buyback program that has been in place since the company’s Annual General Meeting on March 6, 2024. To date, Geiger Counter Limited has bought back a total of 15,485,982 ordinary shares under this initiative.
After this recent transaction, the total number of ordinary shares with voting rights in the company stands at 130,392,822, with an additional 22,281,427 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 remaining shares by reducing the supply.
The company has not disclosed any specific reason for the share buyback, nor has it detailed the impact this may have on its financial position or market performance. Typically, such actions are part of capital management strategies and can reflect a company’s confidence in its own financial health and future prospects.
Investors and interested parties can find more information about Geiger Counter Limited on its website. This latest development in the company’s financial strategy is based on a press release statement and has been made public via RNS, a news service of the London Stock Exchange (LON:LSEG).
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