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LONDON - Geiger Counter Limited, the investment company specializing in uranium and other nuclear fuels, has reported the buyback of an additional 551,486 ordinary shares at an average price of 36.87 pence per share on Monday. This transaction is part of its ongoing share repurchase program, which has accumulated 14,306,035 ordinary shares since the last Annual General Meeting on March 6, 2024.
Following this latest buyback, the total number of voting rights in the company stands at 131,572,769 ordinary shares, with an additional 21,101,480 shares held in Treasury. These repurchased shares are intended to be held in Treasury, potentially to be reissued at a later date or to be canceled to manage the capital structure of the company effectively.
The share repurchase initiative is a common strategy employed by companies seeking to return value to shareholders, as it can potentially increase the value of remaining shares by reducing the supply. It can also signal the management’s confidence in the company’s financial stability and future prospects.
Geiger Counter Limited’s share buyback program aligns with its capital management policies and reflects the company’s commitment to efficient capital allocation. This latest transaction contributes to the total repurchased shares since the authorization granted by shareholders at the previous AGM.
The company’s share performance and buyback activities are of interest to investors monitoring the nuclear energy sector, particularly as the industry responds to global energy demands and the shift towards lower-carbon power sources.
The information regarding Geiger Counter Limited’s share buyback is based on a press release statement provided by the company.
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