Diversified Energy Co. Plc. (DEC) Thursday announced a buyback of 4,756,842 shares for a total consideration of up to 52.3 million pounds. The company said the authorisation is to buy back ordinary shares of 20 pence each.
According to Diversified Energy, the share buyback program will end at the earlier date of either June 30, 2026 or the Company's Annual General Meeting of its shareholders in 2026.
The main aim of the program is to reduce its issued share capital. To facilitate the program, Diversified Energy has entered into an engagement with Peel Hunt LLP, giving the latter authority to repurchase shares, subject to certain agreed parameters.
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