30th Sep 2014 12:13
LONDON (Alliance News) - Sepura PLC on Monday said it will launch a share buyback programme and has tapped Liberum Capital Ltd to handle the deal.
Sepura said the maximum price payable for each share in the buyback is the higher of either 105% of the average market value of its shares for the five days prior to the buyback, or the higher of the price of the last independent trade and highest current bid.
The aggregate number of shares to be acquired by the company under the buyback will not exceed 2.4 million shares.
Sepura shares on Tuesday were up 0.6% to 142.05 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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