Keller Group Plc (KLR.L), a geotechnical engineering company, on Monday announced the commencing of a multi-year share repurchase drive on March 31 with an initial tranche of 25 million pounds. The objective of this move is to reduce the share capital of the Group.
With this, Keller has entered into non-discretionary agreements with each of Investec Bank Plc and Peel Hunt LLP to execute the repurchase through on-market purchases of ordinary shares of 10 pence each.
Investec will execute the first 12.5 million pounds of the share repurchase, while Peel Hunt will execute the second 12.5 million pounds of share repurchase.
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