Pershing Square launches $100m share buyback programme

(Sharecast News) - Pershing Square Holdings announced on Thursday that it was "promptly" commencing a share buyback programme of $100m of its outstanding public shares on the London Stock Exchange and Euronext Amsterdam.The FTSE 250 firm said the programme was accretive to net asset value per share, and would reduce its capital."PSH is appointing Jefferies International as sole buyback agent for the programme," the board said in its short statement."PSH retains the ability to purchase shares either on an opportunistic basis, or based on a trading plan put in place with Jefferies, which will enable the purchase of shares during closed periods."The company told shareholders that the maximum number of shares to be repurchased under the programme was six million, or approximately 2.8% of its current outstanding public shares.It said the programme was expected to last until around the company's next annual general meeting, but could be completed before then.