McKay Securities launches £10m share buyback

Mon, 8th Mar 2021

London and south east focused office property investor McKay Securities launched a £10 million share buyback. The programme commenced Monday and was expected to continue until the company's 2021 annual general meeting, expected to be held on 1 July. McKay said its balance sheet recently had been boosted by the sale of 30 Lombard Street, EC3 in London. In a separate trading statement, McKay said December-quarter rent collection had risen to 92%, with a further 2% due from agreed monthly payments. Discussions continued in relation to the remaining 6% Rent collection for the financial year to date had increased to 93% of all contracted rent and was expected to reach 96% on receipt of outstanding monthly and deferred payments. Of the outstanding 4%, collection of up to a further 2% was anticipated At 9:49am: (LON:MCKS) McKay Securities PLC share price was 0p at 213p Story provided by StockMarketWire.com

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