Fuller, Smith & Turner PLC - London-based pub chain - Selects Numis Securities Ltd, part of Deutsche Bank AG, to conduct the share buyback that Fuller's had announced with its interim results on Wednesday. Fuller's doesn't set any timeframe for the buyback of up to 1 million shares. Says the buyback is aimed at increasing earnings per share. It "reflects the board's view that the current share price continues to represent a significant discount to the company's underlying net asset value". The buyback is in addition to a 6.63 pence interim dividend that Fuller's declared on Wednesday.
Current stock price: 652.26p, down 0.9% in London on Friday morning, for GBP247.1 million market capitalisation.
12-month change: up 30%
By Tom Waite, Alliance News editor
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Fuller Smith & Turner (FSTA)