Zegona Cancels 75,000 Shares Following Buyback Under Ongoing Programme

Zegona Communications ( (GB:ZEG) ) just unveiled an update.

Zegona Communications has repurchased 75,000 of its own ordinary shares under its previously announced share buyback programme, paying a volume-weighted average price of 1,616 pence per share through broker Canaccord Genuity. The company intends to cancel the repurchased shares, reducing the number of ordinary shares and voting rights in issue to 232,940,302, a move that marginally consolidates existing shareholders’ stakes and provides an updated denominator for regulatory disclosure thresholds under UK market transparency rules.

The most recent analyst rating on (GB:ZEG) stock is a Hold with a £1725.00 price target. To see the full list of analyst forecasts on Zegona Communications stock, see the GB:ZEG Stock Forecast page.

Spark’s Take on GB:ZEG Stock

According to Spark, TipRanks’ AI Analyst, GB:ZEG is a Neutral.

The score is driven primarily by mixed financials: very strong free cash flow and solid EBITDA profitability, but materially offset by high leverage and ongoing net losses. Technicals are a secondary positive, showing a clear uptrend with supportive momentum. Valuation confidence is limited due to missing P/E and dividend yield data.

To see Spark’s full report on GB:ZEG stock, click here.

More about Zegona Communications

Zegona Communications plc is a publicly listed investment company on the London Stock Exchange’s Main Market, focused on acquiring and improving businesses in the European telecommunications, media and technology sector to generate attractive shareholder returns. Led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson, Zegona expanded its footprint in 2024 with the acquisition of Vodafone Spain, strengthening its presence in the European telecoms market.

Average Trading Volume: 595,054

Technical Sentiment Signal: Buy

Current Market Cap: £3.78B

Learn more about ZEG stock on TipRanks’ Stock Analysis page.