7th May 2019 11:27
LONDON (Alliance News) - Car supermarket Motorpoint Group PLC on Tuesday announced a new return to shareholders worth up to GBP10 million.
Motorpoint is setting up a new buyback scheme, replacing the existing GBP5 million programme which has now been completed.
Motorpoint, since interim results late November, has bought back a further GBP2.5 million on top of that GBP5 million, and now believes it can purchase up to GBP10 million.
The company expects to finish buying back the 58,000 shares by its 2020 annual general meeting. The buyback will be carried out by joint broker Shore Capital Stockbrokers Ltd.
Motorpoint shares were 1.6% higher on Tuesday morning at 185.64 pence each.
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