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IN BRIEF: GB Group picks Numis to run £25 million share buyback

ALN

GB Group PLC - Chester, England-based identity and location technology provider - Commissions Numis Securities Ltd, which trades as Deutsche Numis, to run a share buyback worth up to £25 million. The buyback begins on Wednesday and will be completed by November 30. The repurchased GB Group shares will be cancelled. ‘The board considers a share buyback to be an attractive use of surplus capital, aligned with our capital allocation policy, to generate significant shareholder value over the long-term,’ GB Group says.

Current stock price: 236.50 pence, up 1.5% in London on Wednesday for £588.7 million market capitalisation

12-month change: down 32%

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