29th Jul 2024 12:15
Nexteq PLC - Cambridge, England-based technology solutions for manufacturers of electronic equipment - Increases its planned share buyback to GBP6.5 million from the GBP1.0 million programme it already had started. Last week, Nexteq shares lost a third of their value, after Chair Francis Small, Chief Executive Officer Jon Jayal, and Chief Financial Officer Johan Olivier all announced they will leave the company in the coming months. On Monday, Nexteq says that while the board had wanted to retain cash for potential acquisitions to diversify revenue, the string of resignations means that "completion of any acquisition is likely to be delayed". What's more, the size of any such purchase is likely to be smaller, Nexteq says, as its "current trading performance reduces the scale of potential opportunities being targeted". Read More
