Redde Northgate extends share buyback programme

(Sharecast News) - Vehicle rental group Redde Northgate said on Wednesday that it will extend its share buyback programme after having purchased roughly 7.5m ordinary shares since kicking off the programme on 15 March.

Redde Northgate stated it purchased the ordinary shares for a total consideration of approximately £28.0m and will now extend the buyback programme by a further £30.0m, up to a maximum aggregate consideration of £60.0m.

The FTSE 250-listed firm added that it has made "a strong start to the new financial year".

As of 0900 BST, Redden Northgate shares were up 1.74% at 381.0p.

Reporting by Iain Gilbert at Sharecast.com