QinetiQ Group Plc (QQ.L), a defense engineering company, said on Monday that it has inked a deal with Numis Securities Limited or Deutsche Numis to launch the third tranche of its share repurchase to buy back up to 50 million pounds of shares.
Under the third tranche, to be completed by June 30, the company will repurchase a maximum of 42.778 million shares. Any shares purchased pursuant to the program will be cancelled.
On January 16, the company had announced a share repurchase program of 100 million pounds, and later the Group extended the same by 50 million pounds.
The company has already repurchased 100 million pounds of shares.
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