17th Oct 2018 11:14
LONDON (Alliance News) - Thalassa Holdings Ltd on Wednesday said it extended its share buyback programme to enhance book value per share for its shareholders.
The surveying services company said it now intends to repurchase shares worth GBP6 million, up from GBP4 million announced earlier.
"The board believes that increasing the size of the share buy back programme with a price limit below GBP1.16 represents good value and will enhance book value per share for all Thalassa shareholders," said Executive Chairman Duncan Soukup.
In the year-to-date, Thalassa acquired 4.2 million shares at an average price of 88.66 pence each and a total cost of GBP3.7 million. The company said the price represents 24% discount to the GBP1.16 book value per share reported for the first half of 2018.
The stock was untraded on Wednesday, last quoted at 89.00p per share.
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