IN BRIEF: Bytes Technology launches up to GBP25 million buyback scheme

Bytes Technology Group PLC - Surrey, England-based computer software company - Launches a share buyback programme worth up to GBP25 million. "After considering the company's strong balance sheet position and prevailing share price, the board believes that it would be beneficial to return capital to shareholders through a share repurchase," says the company. The programme will be run by Numis Securities Ltd and Peel Hunt LLP, with them set to purchase two equal tranches of up to GBP12.5 million each. Bytes Technology expects the programme to be completed in the second half of the year.

Current stock price: 388.48 pence, up 7.5% on Friday morning in London

12-month change: down 20%

By Christopher Ward, Alliance News reporter

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