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LONDON - Defence and security company QinetiQ Group plc has completed a £50 million share buyback and immediately launched a second tranche of the same value, according to a company statement released Monday.
The completed buyback represents the first portion of a £200 million share repurchase program extension that QinetiQ announced on March 17, 2025. The company has now entered into an agreement with Deutsche Numis to execute the second £50 million tranche, which is expected to be completed by March 31, 2026.
Under the arrangement, Deutsche Numis will make trading decisions independently of QinetiQ based on pre-established parameters. The repurchase will be conducted on the London Stock Exchange and potentially other UK recognized investment exchanges.
The buyback will operate under shareholder authorization granted at QinetiQ's Annual General Meeting held on July 17, 2025. This authority permits the company to repurchase up to 47,227,575 ordinary shares.
All shares purchased through the program will be cancelled, reducing the total number of outstanding ordinary shares.
QinetiQ's share buyback program complies with UK Financial Conduct Authority's Listing Rules and relevant EU regulations as incorporated into UK law following Brexit.
The company, which employs approximately 8,000 people, specializes in defence and security innovation, technology testing, and capability deployment.
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