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Minds + Machines Raises Buyback Daily Limit Due To Lack Of Liquidity

Wed, 03rd Feb 2016 09:22

LONDON (Alliance News) - Internet domain owner Minds + Machines Group Ltd on Wednesday said it has changed the terms of its ongoing share buyback programme due to a lack of liquidity in its shares.

The company said it will increase the maximum daily volume of shares purchased by the company to in excess of 25% of its average daily volume, having previously set this percentage as the limit.

The company said it has so far bought back a total of 72.9 million shares, between September 25, 2015 and January 29, at a total cost of GBP6.3 million.

Minds + Machines shares were untraded on Wednesday, having last traded at 7.50 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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