ThinkSmart set to return £2.5m to shareholders

(Sharecast News) - ThinkSmart updated the market on its plans to return £2.5m to shareholders on Friday, announcing that a general meeting to approve the return would be held on 29 June.

The AIM-traded company said operationally, it was still providing an outsourced call centre and customer support service to Clearpay.

It said it was "responsibly managing" the wind-down of its legacy leasing business, which was continuing to yield positive cash flows.

"The board is also pleased to note that Block, Inc will be hosting a virtual investor day on 18 May," ThinkSmart said in its update.

Its directors said they retained a positive outlook of the value of the company's Block holding, of 618,750 shares, despite current market volatility.

"The company expects to be in a position to provide a more detailed strategic update regarding its Block holding ahead of its year-end results announcement."

At 0947 BST, shares in ThinkSmart were up 7.91% at 24.01p.

Reporting by Josh White at Sharecast.com.