Firstgroup (GB:FGP) has released an update.
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FirstGroup plc has launched a £50 million share buyback program, set to start tomorrow and run until November 2025, aiming to repurchase up to 14.99% of its issued share capital. The initiative, divided into two £25 million tranches and managed by RBC Europe Limited and Panmure Liberum Limited, seeks to reduce the company’s issued share capital by holding and eventually canceling the repurchased shares. This move could potentially increase shareholder value as the company aims to streamline its capital structure.
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