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LONDON - Kainos Group plc, a UK-based IT provider, announced on Wednesday the renewal of its share buyback programme for up to £30 million, following the plan outlined in its interim results released on November 10.
The company has appointed Investec Bank plc to manage the non-discretionary programme, which will run until either the maximum amount is reached or until May 18, 2026. All shares purchased will be canceled as part of the company's strategy to reduce its share capital.
Kainos, which specializes in Digital Services, Workday Services and Workday Products, reported a net cash and treasury deposit balance of £105.5 million as of September 30, 2025, citing a strong unlevered balance sheet and significant operating cash flow generation.
The programme aligns with the company's capital allocation policy, which aims to support both organic and acquisition-based growth while rewarding shareholders through earnings growth and dividends. The company indicated that surplus cash beyond growth requirements would be considered for additional returns to shareholders.
The buyback will be conducted under the general authority granted by shareholders at the annual general meeting on September 23, 2025, and will not exceed 12,095,395 shares, less any shares already purchased between September 23 and November 18, 2025.
All transactions will be executed on the London Stock Exchange in accordance with UK Listing Rules and Market Abuse Regulations, with Investec acting as principal for the simultaneous on-sale of shares to Kainos.
The company noted in the press release statement that there is no guarantee the programme will be implemented in full or that any shares will be purchased.
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