Trustpilot Group Plc (TRST.L), a Danish consumer business operating a review website, announced the commencement of a further share buyback programme of up to 20 million pounds on March 18.
The company said that the main purpose of the share buyback programme is to reduce its share capital, and all the ordinary shares bought under the programme will be cancelled.
Trustpilot Group said that the maximum number of ordinary Shares that it can purchase under the buyback programme, before the expiry of authority, is around 34.13 million.
The company has entered into an agreement with Joh. Berenberg, Gossler & Co. KG, London Branch to purchase its ordinary shares up to a maximum aggregate consideration (excluding expenses) of 20 million pounds, which would amount to around $25 million at prevailing exchange rates.
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