TSX runs higher on rate cut expectations
LONDON - Likewise Group plc (AIM:LIKE), a UK-based floor coverings distributor, has announced the launch of a share buyback program, aiming to repurchase up to £250,000 worth of its ordinary shares. The buyback, using the company’s existing cash resources, is said to be in the best interests of all shareholders.
The company has appointed Zeus Capital Limited to execute the buyback on its behalf. The repurchase price per share will not exceed 105% of the average market price of the last five trading days or the higher of the last independent trade and the highest current independent bid.
The shares acquired through this program will be held in treasury with the possibility of being cancelled in the future. The board members have confirmed that they will not sell any shares as part of this program.
This initiative is in line with the authority granted by shareholders on June 20, 2024, and complies with UK market abuse regulations. Further announcements will follow regarding the progress of the buyback.
The company has affirmed that it currently holds no undisclosed price-sensitive information. The information for this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.