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LONDON - Geiger Counter Limited, an investment company, has announced the repurchase of 599,595 of its ordinary shares on Monday, at an average price of 36.11 pence per share. This latest transaction is part of a share buyback program that the company has been undertaking since the Annual General Meeting held on March 6, 2024.
Since the commencement of the program, Geiger Counter Limited has bought back a total of 16,685,130 ordinary shares. Following this recent acquisition, the total number of voting rights in the company stands at 129,193,674 ordinary shares, with an additional 23,480,575 ordinary shares held in Treasury.
The repurchased shares will be held in Treasury, which typically means they are not considered for dividends and do not have voting rights. Companies often engage in share buyback programs to reduce the number of shares available in the market, which can potentially increase the value of remaining shares and provide a return to investors.
This financial move comes as part of Geiger Counter Limited’s ongoing strategy to manage its capital effectively. The company has not disclosed specific future plans for additional share buybacks or their intended impact on the company’s market position.
The share buyback program is conducted under the guidelines and regulations of the London Stock Exchange (LON:LSEG), where Geiger Counter Limited’s shares are traded. The company has provided the necessary information to RNS, the news service of the London Stock Exchange, fulfilling its disclosure obligations.
Investors and interested parties can find more information about Geiger Counter Limited on the company’s website. The company’s actions reflect its commitment to shareholder value and prudent capital management.
This report is based on a press release statement issued by Geiger Counter Limited and does not include any additional analysis or opinion.
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