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LONDON - Touchstar plc (AIM:TST), a supplier of mobile data computing solutions, announced Tuesday the expansion of its share buyback program from £100,000 to £1 million, following approval at its Annual General Meeting.
The company reported that all resolutions were passed at the AGM, including the appointment of Lynden Jones as CEO and director, replacing Mark Hardy who has stepped down from both positions.
In its business update, Touchstar stated that trading remains in line with board expectations, though it anticipates financial results for full-year 2025 to be weighted toward the second half. The next formal update to shareholders is expected in mid-September with the release of interim results.
The expanded buyback program is effective immediately and will continue until either the £1 million limit is reached or the company’s next annual general meeting, expected in June 2026. Zeus Capital Limited will manage the program independently, making trading decisions within defined parameters.
Touchstar’s board stated that the buyback is "in the best interests of all shareholders, given the cash generative nature of the business and the surplus cash the Company holds."
Under the program, repurchased shares will either be cancelled or held in treasury at the company’s discretion. The company’s current issued share capital remains at 8,475,077 shares, with 295,524 shares held in treasury, resulting in total voting rights of 8,179,553.
The information in this article is based on a press release statement from Touchstar plc.
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