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IN BRIEF: Mortgage Advice updates on index move, starts buyback

ALN

Mortgage Advice Bureau Holdings PLC - Derby, England-based mortgage broker - Commences, on Tuesday, a buyback programme of up to 478,775 shares, to ‘meet obligations arising from share option programmes.’ Expects the repurchased shares to be held in treasury. Has entered a non-discretionary arrangement with Stifel Nicolaus Europe Ltd, trading as Keefe, Bruyette & Woods, to conduct the buyback on its behalf.

Also, Mortgage Advice Bureau says it expects admission to trading on the main market for listed securities of the London Stock Exchange, and for its shares to be cancelled from trading on AIM, at the London market open on May 1. It currently has a market capitalisation of £326.1 million.

Current stock price: 564.00 pence, up 1.4% on Wednesday in London

12-month change: down 25%

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