23rd Sep 2024 09:03
(Alliance News) - WH Smith PLC on Monday announced the start of its new share buyback programme.
The Swindon, England-based retailer said it has entered into an arrangement with Barclays Bank, allowing the latter to buy back WH Smith shares from Monday until April 15, 2025.
The total purchase price under this arrangement will not exceed GBP25.0 million, WH Smith said. The firm earlier in September had announced plans for a GBP50 million share buyback.
The purpose for the share buyback is to cancel the bought back shares to reduce WH Smith's share capital.
WH Smith shares were 0.1% higher at 1,402.00 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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