Watches of Switzerland Group Plc (WOSG.L, WOSGF) announced Monday that it will commence a share buyback programme to purchase ordinary shares of 0.0125 pounds each, for up to a maximum aggregate consideration of 25 million pounds.
The company's already announced capital plan remains unaffected by the buyback.
As per the program, Barclays will purchase up to 23.96 million ordinary shares during open periods of the company.
The Share Buyback Programme will commence immediately and end no later than the earlier of either the date of the company's next annual general meeting; or the close of business on December 3.
For the program, the company has entered into an agreement with Barclays Bank PLC, acting through its investment bank, in relation to the purchase by Barclays, acting as riskless principal, of Ordinary Shares.
In London, Watches Of Switzerland shares were trading at 473.20 pence, up 4.92%.
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