PayPoint announced the launch of the second tranche of the Buyback Programme to purchase ordinary shares in the capital of the company for an aggregate consideration of up to 30 million pounds, commencing with immediate effect and ending no later than 31 March 2026. The sole purpose of the Buyback Programme is to reduce the share capital of PayPoint and therefore the Ordinary Shares purchased under the Buyback Programme will be cancelled.
The company has entered into renewed irrevocable, non-discretionary instructions with Investec Bank plc to conduct the Buyback Programme on its behalf and to make trading decisions under the Buyback Programme independently of PayPoint.
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