30th Oct 2023 09:17
Foresight Group Holdings Ltd - London-based infrastructure and private equity investment manager - Begins GBP5 million share buyback, conducted by Numis Securities Ltd, now part of Deutsche Bank AG. The buyback begins on Monday and ends when the maximum amount is reached or the board's authority to buy back shares expires, if earlier. Board has the authority to buy back up to 11.6 million shares, which would be worth GBP39.0 million at the current market price, whereas GBP5 million will buy about 1.5 million shares. The company has 116.3 million shares issued, so 1.5 million shares is about a 1.3% stake. The concert party of Bernard Fairman, Gary Fraser and David Hughes, which holds a 34.1% stake, are not participating in the buyback, Foresight says.
Current stock price: 336.00 pence, up 1.8% in London on Monday
12-month change: down 7.2%
By Tom Waite, Alliance News editor
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