Circassia Pharmaceuticals Announces Share Buyback

Circassia Pharmaceuticals (GB:NIOX) has released an update.

Circassia Pharmaceuticals, a medical device company focused on asthma diagnosis, has announced a proposal to return up to £21 million to its shareholders through a Tender Offer for up to 26,250,000 Ordinary Shares at a price of 80 pence each. This price is at a premium of over 21% compared to recent average share prices, with the offer representing about 6.2% of the company’s issued share capital. Qualifying shareholders have the option to sell back a portion of their shares, and the company will retain the first 10 million shares bought back in treasury.

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