ME Group International plc (MEGP.L), a operates, sells, and services a range of instant-service equipment, on Monday announced the launch of a share buyback programme of up to 18 million pounds.
The buyback will commence immediately and is expected to be completed by December 31, or a later agreed date.
Shares will be purchased in the open market under shareholder authority granted at the February 26 general meeting, which permits the repurchase of up to 37,772,333 shares.
The company said purchased shares will either be cancelled or held in treasury to meet obligations under share-based compensation programmes.
On February 27, ME Group International closed trading at 1.79% higher at GBp 136.60 on the London Stock Exchange.
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