(Alliance News) - Minds + Machines Group Ltd on Friday said it has approved a share buyback programme of up to GBP1 million.
The domain registry company said the buyback programme will be independently managed by finnCap Ltd, AIM-listed Minds + Machine's broker.
Minds + Machines said the maximum price paid per share under the buyback programme will be no more than doubled of the average middle market closing price for the five business days preceding the date of purchase.
The buyback programme will start Friday and will continue until September 25. Minds + Machines intends to hold the repurchased shares in treasury.
The stock was trading 6.7% higher on Friday in London at 6.40 pence each.