Paragon Banking Group PLC (GB:PAG) has released an update.
Paragon Banking Group PLC has repurchased 89,325 of its ordinary shares as part of a £50 million share buyback program, with the highest price paid at 754.50p and the lowest at 740.00p per share. The buyback is facilitated through Jefferies International Limited and aims to consolidate the company’s shareholdings, now holding 3,627,072 shares in treasury out of a total of 206,977,888 shares in issue. This strategic move could potentially enhance shareholder value by reducing the number of outstanding shares and increasing ownership stakes.
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