LONDON - Geiger Counter Limited, an investment firm, has announced the repurchase of 74,000 of its ordinary shares on Wednesday, at an average price of 51.08 pence each. This latest buyback is part of the company's ongoing share repurchase program, which has seen the firm buy back a total of 12,612,543 ordinary shares since the Annual General Meeting held on March 9, 2023.
Following this transaction, Geiger Counter Limited now has 140,056,804 ordinary shares with voting rights in circulation, in addition to 12,617,445 ordinary shares held in Treasury. The shares acquired through the buyback are intended to be kept in Treasury.
Share buybacks are a common strategy used by companies to return value to shareholders, as it can potentially increase the value of remaining shares by reducing the supply. However, the move does not always indicate confidence in the company’s future performance and can be influenced by various strategic considerations.
Geiger Counter Limited specializes in investments related to the uranium and nuclear sectors. The company’s activities and further information can be found on their website.
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 Geiger Counter Limited.
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