Elementis plc (ELM.L, ELMTY), a speciality chemical company, on Wednesday announced the commencement of a share buyback programme to repurchase up to approximately GBP 25 million of its ordinary shares by February 28, 2027.
The aggregate maximum consideration payable under the programme is approximately GBP 25 million, equivalent to about $35 million.
The maximum number of shares that may be repurchased under the programme is 56.93 million shares.
The programme is intended to reduce the company's share capital, with the majority of repurchased shares expected to be cancelled and a portion retained in treasury to meet obligations under employee share schemes.
The company appointed Rothschild & Co Global Markets Solutions to manage the programme, including during closed periods under pre-set parameters.
Purchases will be conducted on the London Stock Exchange and other trading venues in compliance with applicable regulations, with transactions to be disclosed on a weekly basis.
Elementis closed trading 2.90% higher at GBp 156.20 on the London Stock Exchange.
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