11th Sep 2025 10:44
Picton Property Income Ltd - Guernsey-based property investment company - Intends to launch a further buyback worth up to GBP12.5 million. This follows its buyback initiated in January, with Picton having deployed GBP17.3 million between January 30 and July 29 to repurchase shares. Picton believes the current share price "significantly undervalues" the company. Says it will continue to repurchase shares as a means of creating value for shareholders should the valuation gap persist. Notes it has instructed broker Stifel Nicolaus Europe Ltd to purchase the shares. Adds that the decision to commence the further buyback follows the unconditional exchanging of contracts for the disposal of an office asset, due to complete this month.
Current stock price: 74.58 pence, up 0.8% on Thursday morning in London
12-month change: down 0.6%
By Christopher Ward, Alliance News reporter
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