20th Apr 2018 09:14
LONDON (Alliance News) - Power company Drax Group PLC on Friday announced a GBP50.0 million share buyback programme as it looks to reduce its share capital.
Drax said the maximum number of shares which can be repurchased is 40.7 million, and it will be completed by no later than mid-January 2019. The shares will be put in treasury pending cancellation or reissue, it said.
Drax shares were up 0.3% Friday morning at 299.20 pence each.
It has appointed JPMorgan Securities PLC to manage the buyback.
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