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LONDON - IP Group plc (LSE:IPO) announced Thursday it is extending its share buyback program by £20 million to a total of £75 million, according to a company press release.
The extension will be funded using proceeds from a previously announced secondary sale from December 2024, along with 50% of the Group’s other realisations received in 2025, totaling £20 million in aggregate.
The extended buyback program will run until December 31, 2025, unless completed or terminated earlier, or unless the company and Deutsche Numis agree otherwise.
Since initiating the buyback program, IP Group has purchased 122,904,597 shares at an average price of 44.8 pence per share, for a total consideration of £55 million. All shares acquired under the program have been, or will shortly be, cancelled.
Following the cancellation, the company’s issued share capital consists of 918,491,679 ordinary shares with voting rights, with no ordinary shares held in treasury.
IP Group has entered into a non-discretionary agreement with Deutsche Numis to continue managing the buyback program independently. The extension complies with the company’s general authority to purchase up to 141,415,378 ordinary shares, as approved by shareholders at the Annual General Meeting on June 12, 2025.
The company confirmed it is not in a closed period and has no unpublished price sensitive information. The buyback will be conducted in accordance with relevant regulations, including the Market Abuse Regulation and the Financial Conduct Authority’s Listing Rules.
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