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LONDON - Geiger Counter Limited, an investment company, has completed the buyback of 165,748 of its ordinary shares on Tuesday, at an average price of 34.41 pence per share. This transaction is part of the company’s ongoing share repurchase program, which has seen a total of 13,674,549 ordinary shares bought back since the Annual General Meeting on March 6, 2024.
Following this latest repurchase, Geiger Counter Limited now has 132,204,255 ordinary shares with voting rights in circulation, alongside 20,469,994 ordinary shares held in treasury. These treasury shares do not carry voting rights and are typically excluded from the calculation of earnings per share and other metrics.
The share repurchase program is a common practice among publicly-traded companies, allowing them to return value to shareholders. By reducing the number of shares outstanding, such buybacks can potentially increase the value of remaining shares and improve financial ratios.
The repurchased shares will be held in treasury, which gives the company the flexibility to reissue them for future corporate needs or to cancel them to reduce share capital.
This move by Geiger Counter Limited reflects a strategic decision by the company’s management to manage its capital structure and return capital to its shareholders. The information regarding the share buyback was released by RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement from the company.
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