Stock market today: Nasdaq closes above 23,000 for first time as tech rebounds
LONDON - TruFin plc (AIM:TRU) announced Wednesday the commencement of a new £4 million share buyback program following the completion of a previous buyback of the same amount in August 2025.
The financial technology company said the new program will purchase ordinary shares of £0.91 each, with all acquired shares to be cancelled. The buyback will run from September 17 until either the maximum amount is reached or December 31, 2025, whichever comes first.
TruFin has appointed Panmure Liberum Limited to manage the purchases on a discretionary basis, acquiring shares on the London Stock Exchange within pre-set parameters.
The company stated that the buyback falls within the limitations of authority granted at its annual general meeting held on June 12, 2025, under which TruFin has remaining authority to repurchase 12,681,025 ordinary shares.
According to the press release, the maximum price for shares purchased will not exceed 105% of the average middle market quotations for the five business days preceding the purchase.
TruFin noted that daily purchases may represent a significant portion of daily traded volume and could exceed 25% but not 50% of the average daily traded volume during the preceding 20 trading days.
The company cited continued strong performance and generation of excess cash as factors behind the decision. The board believes the company’s shares trade at a discount to an internally calculated intrinsic value, and the program aims to enhance shareholder returns while reducing share capital.
Any market purchases made under the program will be announced no later than 7:30 a.m. UK time on the business day following the transaction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.