8th Aug 2018 12:07
LONDON (Alliance News) - Franchise Brands said Wednesday it has instigated a share buyback programme with a maximum value of GBP200,000.
The programme will run until the end of the year with Allenby Capital Ltd and Dowgate Capital Stockbrokers acting as joint brokers for the deal. Franchise Brands already has shareholder approval for the programme.
The company said that the goal of the buyback is to offset the impact of share awards. At present 3.5 million of the company's shares - equivalent to 4.5% of its issued capital - are outstanding under option arrangements.
Shares in Franchise Brands were down 0.6% at 79.50 pence on Wednesday.
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