Street Calls of the Week
LONDON - Johnson Service Group PLC (LSE:JSG) announced Tuesday it has initiated a new share buyback program worth up to £25 million, following the completion of its previous £30 million repurchase initiative announced in March 2025.
The textile rental and laundry services provider said the new program will commence immediately and run until March 2, 2026. The company has entered into a non-discretionary arrangement with Investec Bank plc to execute the share repurchases independently based on pre-set parameters.
According to the company’s statement, all shares acquired through the program will be canceled, effectively reducing the firm’s share capital.
"The Board considers the Buyback Programme is prudent, reflects the cash generative ability of the Group and maintains a strong balance sheet consistent with its capital allocation policy," the company said in a press release.
Johnson Service Group stated it has "significant headroom" under its committed facilities after accounting for recent investments, acquisitions, and previous buybacks. The board indicated it will review further capital allocation options once the current program concludes.
The repurchases will be conducted within parameters set by UK market abuse regulations and the company’s existing share repurchase authority. Johnson Service Group will announce details of any share repurchases by 7:30 am on the business day following each transaction.
The announcement came on the same day the company released its interim results for the six months ended June 30, 2025.
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