6th Feb 2025 11:11
GlobalData PLC - London-based analytics and consultancy firm - Announces a share buyback and says it plans to exit AIM, eyeing a move to the Main Market. GlobalData says it will return GBP50 million to shareholders through a share buyback programme. Investec Bank PLC will conduct the programme, which kicks off on Thursday. "The purpose of the share buyback programme is to return surplus capital to shareholders and reduce the group's share capital pursuant to its capital allocation policy," GlobalData says. Company also announces intention to apply for a listing on the Main Market's equity shares [commercial company] listing segment. "The board believes that admission will further enhance the company's corporate profile and recognition, as well as extending the opportunity to own the company's ordinary shares to a broader group of UK and global institutional shareholders. An update on the timing and process to seek admission will be provided in due course," GlobalData adds.
GlobalData Chief Executive Officer Mike Danson says: "Our listing on AIM has been an important part of our growth journey to date. In FY25, as we look to accelerate initiatives as part of our Growth Transformation Plan 2024-2026, it's the right time to announce our intention to move to the Main Market listing in London. We have clear ambitions to drive GlobalData forward and believe this move will enable us to access a wider pool of capital to support our growth ambitions and attract additional investors and customers."
Current stock price: 203.48 pence each, up 9.7% on Thursday morning in London
12-month change: up 2.0%
By Tom Budszus, Alliance News slot editor
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