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LONDON - Jet2 plc, the Leisure Travel group, announced Wednesday it will launch a share buyback program of up to £100 million for its ordinary shares of 1.25p each.
The company has instructed Jefferies International Limited to execute the program, which is scheduled to commence on December 1, 2025, and conclude on or before June 30, 2026.
According to the announcement, Jefferies will operate as a "riskless" principal and make independent trading decisions regarding the ordinary shares, following pre-set parameters that comply with UK market abuse regulations.
The buyback will be conducted within the limits of shareholder authorization granted at Jet2's Annual General Meeting on September 4, 2025. At that meeting, shareholders approved the purchase of up to 20,796,104 ordinary shares, with 14,529,099 shares remaining available under this authority.
All ordinary shares purchased through the program will be cancelled rather than held in treasury.
Jet2 stated it intends to announce any share purchases made under the program on the business day following the transaction.
The leisure travel company's announcement was made by Gary Brown, who is responsible for the statement on behalf of the company.
The information is based on a press release statement issued by Jet2 plc.
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