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LONDON - QinetiQ Group plc, a global defense and security company, has completed the third £50 million tranche of its ongoing share buyback program, initially announced on February 3, 2025. The company has also commenced the first tranche of a newly extended buyback plan, set to repurchase up to £200 million worth of shares over the next two years.
The latest tranche, with a maximum aggregate value of £50 million, is being conducted through Numis Securities Limited, which will operate independently of QinetiQ to make trading decisions within certain pre-set parameters. This tranche is expected to be completed by November 28 and is authorized by the shareholders’ approval at the 2024 Annual General Meeting, with the possibility of using subsequent approvals from the 2025 Annual General Meeting.
Under the current authorization, QinetiQ may repurchase a maximum of 30,892,966 Ordinary Shares. All purchases will occur on the London Stock Exchange (LON:LSEG) or other UK recognized investment exchanges, adhering to the Buyback Authority and regulations set by the UK Financial Conduct Authority and relevant EU legislation as incorporated into UK law.
Shares acquired under this program will be canceled, reducing the total number of Ordinary Shares in circulation. This move aligns with QinetiQ’s strategy of mission-led innovation and its commitment to delivering operational performance for customers. The company employs approximately 8,500 individuals who specialize in testing and deploying new technologies for defense and security.
This information is based on a press release statement from QinetiQ Group plc.
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