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IN BRIEF: AO World starts share buyback amid £20 million in returns

ALN

AO World PLC - Bolton, England-based online electrical appliances retailer - AO World starts on Wednesday the £10 million share buyback announced with its annual results last month. The buyback will be completed by March 31 next year. The first £5 million will be run by Jefferies International Ltd, part of Jefferies Financial Group Inc, and the second half by Peel Hunt LLP. The repurchased shares will be cancelled. AO World additionally confirms payment of a special dividend of 1.75 pence per share, also worth £10 million in total. The dividend will be paid on July 31, and shares will trade ex-dividend from July 9.

Current stock price: 94.20 pence, up 3.0% in London on Wednesday afternoon

12-month change: down 3.4%

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