U.K.-based real estate business Hammerson Plc (HMSO) on Wednesday announced the commencement of its programme to purchase its ordinary shares of 5 pence each up to a maximum consideration of 140 million pounds.
The sole purpose of the programme announced on July 22, 2024, is to reduce the company's share capital and the shares purchased under the programme would be cancelled.
The company has entered into an instruction to Morgan Stanley & Co. International Plc in relation to the purchase and the simultaneous on-sale of shares to the company.
The buyback programme would end no later than October 16, 2026.
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