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Hunting PLC - London-based supplier of equipment to the oil and gas industry - Intends to extend its current $40 million share buyback programme by up to a further $20 million. Says the buyback ‘is being extended in light of the group’s sustainable cash generation and strong balance sheet and follows further consultation with major shareholders since the rebalanced capital allocation priorities were announced on July 9’. Hunting’s upper limit for the number of shares it can repurchase is unchanged at 24.7 million. Notes that the programme remains ‘subject to market conditions’ and that ‘there is no guarantee that [it] will be implemented in full’. Back in July, Hunting announced plans to undertake the current buyback for up to $40 million , but reaffirmed its capital allocation policy of continuing to invest in core operations, and to pursue bolt-on acquisitions in subsea technologies, non-oil and gas, and other areas. Current stock price: 390.20 pence, down 0.1% around midday on Tuesday in London 12-month change: up 31% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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