Pollen Street Group Ltd (POLN.L) Wednesday announced the launch of a new share buyback programme of up to 30 million pounds. The programme allows for the repurchase of up to 9.11 million ordinary shares of the company.
The British private investment business said that the main purpose of the newly launched share buyback programme is to reduce its share capital. The Company has appointed Investec Bank plc and Panmure Liberum Ltd as riskless principals to execute the share repurchases under the programme.
Pollen Street Group said that the ordinary shares acquired by Investec and Panmure Liberum will subsequently be sold to the company and held in treasury, where they will not be eligible for dividends.
The company said that the buyback programme will begin on November 5 and run until the same date in 2026.
On the LSE, POLN.L is up 0.52 percent on Wednesday's trading at 890.56 pence.
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