On Tuesday, GlobalData Plc (DATA.L), a data analytics and consulting company, announced the launch of a new share buyback programme of up to maximum consideration of 5 million pounds.
On the London Stock Exchange, the shares were trading 5.28 percent lower at 80.70 pence.
The programme is expected to commence on June 23.
The programme has been launched for the purpose of returning surplus capital to shareholders and reduce share capital of the company. Essentially, all the ordinary shares repurchased under the programme will be cancelled.
The share buyback programme will be effected under the authority of shareholders at the 2026 Annual General Meeting to purchase a maximum of 75.72 million ordinary shares.
The maximum price per ordinary share will be no more than an amount equal to 105 percent of the average average middle market quotations for an Ordinary Share. The minimum price that may be paid is 0.0001 pound per share.
The company has entered into non-discretionary agreements with Investec Bank plc to conduct the programme on its behalf.
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