25th Jun 2020 12:36
(Alliance News) - Quilter PLC on Thursday updated the market on its share buyback progress, reporting it will proceed with one part of a second instalment though the remaining GBP50 million will be subject to "further consideration".
So far, the financial services firm has repurchased GBP50.2 million of the GBP375 million capital return plan. It said 43.2 million shares were purchased at an average of 116.14 pence each.
Its stock was up 1.5% at 137.45p each in London, while in Johannesburg, it was 2.3% at ZAR29.79.
Following regulatory approval for the GBP125 million second tranche, it has agreed that Goldman Sachs International will manage the repurchase of GBP75 million. However, the repurchase of the remaining GBP50 million from the second tranche "shall remain subject to further consideration of the company at a later date".
The repurchased shares will be cancelled, Quilter noted.
By Eric Cunha; [email protected]
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