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CentralNic Group PLC on Friday celebrated the launch of its maiden share buyback programme of ordinary shares for a maximum consideration of £4 million.
Further to its announcement on December 12, the global internet software company said that the buyback programme of ordinary shares launches effective Friday.
The programme will end no later than the date upon which the aggregate consideration paid for ordinary shares reaches £4 million, or by the time of the company’s 2023 annual general meeting, due to be held no later than June 30, 2023.
CentralNic has appointed its broker, Zeus Capital Ltd, to manage the programme. Zeus will make trading decisions in relation to the programme independently of the CentralNic, within certain defined parameters.
CentralNic said the programme was ‘in the best interests of all shareholders, given the cash generative nature of the business and the strong performance compared to expectations’.
CentralNic shares closed 3.3% higher at 155.00 pence in London on Friday.
By Holly Beveridge; Alliance News reporter
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