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I'd have thought this 80p level will stay for a while. Seems like the buyback just keeps it there or thereabouts each day and stops some of the shenanigans you see on other tickers. I expect the next ramp will be on news of US sale or an offer for the business as a whole ... might have to wait till after the summer I imagine.
I assume the additional 50% of buybacks can now come into play. D Bank target £2.50 and remember flexi pay growing rapidly, US up for sale and from original ipo price £4.40 plenty of upside to come
...Pg 105 of the annual report confirms that directors awards vest early on a change of control of the plc.
No doubt they fully vest on takeover
Just noticed stochastic falling and macd crossing on down trajectory per technical charts, which was to be expected at some point
£1m for zero . Option price Nil !!!!
Exciting times ahead, should surge past £1, buybacks approved yesterday so a further 50% can be bought back which will further deplete the freefloat rapidly
You don't think we've already had a decent rocket :-)
I actually had Funding Circle phone me today asking if my business would be interested in their services. First time they've called me in a couple of years, so they are definitely going through a big sales push at the moment.
I wonder how the neg are progressing with the US disposal. That would really put a rocket under the share price
Only a few scraps on offer - up we go . We will be through £1 this month with ease
Another small top up for me again sub 80p
Yes - hopefully share capital will reduce below 300m in double quick time . Its an easy buy and hold when the company is deploying such large buybacks at 82p ish
Another 250,000 purchased today along with 280,000 yesterday c£450,000 in 2 days. Cant hold here for much longer
Thanks justdandy, that clears that up!
Resolution 19 passed with 100% of the vote.
Resolution 19: Purchase of own shares
The effect of Resolution 19 is to grant authority to the Company to purchase its own ordinary shares, up to a maximum of 54,085,678 ordinary shares, until the annual general meeting in 2025, or 31 July 2025, whichever is earlier. This represents 15% of the ordinary shares in issue as at 20 March 2024, being the latest practicable date prior to the publication of this Notice. The Company’s exercise of this authority is subject to the stated upper and lower limits on the price payable, the upper limit being the price stipulated in Commission Delegated Regulation (EU) 2016/1052 as referred to in Article 5(6) of the EU Market Abuse Regulation and the Listing Rules.
The Company announced on 7 March 2024 that it would commence a discretionary programme to buy back and cancel ordinary shares up to a maximum consideration of £25 million. This will be carried out by the Company using the authority to purchase its own shares as approved by shareholders at the 2023 AGM, and the authority under this resolution 19 is sought to enable the Company to complete this programme. The Directors regard the ability to repurchase issued shares in suitable circumstances as an important part of the financial management of the Company, and therefore consider it desirable to have the authority to make purchases by way of on market purchases under Resolution 19 up to 15% of the Company’s issued share capital to have increased flexibility in conducting buybacks of ordinary shares.
Care to elaborate CM?
No mention of increase in buybacks in AGM? am i reading this correctly anyone else with view?
Wooosh time soon
They want to do. Tender offer - spoke to the investor relation chap
Don't think that is the case, think the £25m is fixed but they want to increase buybacks to 15%.
So originally they announce £25m which in theory would have taken them above the 10% or so threshold they are allowed to buy back. I thought the approval was to enable them to execute the £25m which may have exceeded the 10 or 15% based on the MCAP when announced.
Are you saying they want to add a further £12.5m and take the total spend on buybacks to £37.5m?
No they are voting to expand the buyback today, so we should get more buying pressure.
The £25m buyback was just what they wanted to do in the first place. It's just a process of being allowed to! Does not sound like there has been any update relating the US side of things. I think that's what's needed to get this SP past the £1 mark.
Hopefully get an AGM statement after the meeting confirming the bigger buyback and a trading update