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Another £20 million buyback announced. This is arguably a huge buy signal, as they could have waited for the final results at the end of March to announce this, but going early likely means they can buy cheaper than after the results, and they will not be paying a dividend on however many they are able to buyback before the shares go ex dividend, so will be saving a large amount.

Thankyou Time2Buy for posting this.

Whilst he was honest enough to admit that in one respect they took their eyes off the ball, I am not convinced about the FX loss and when they knew about this. Surely a good accountant and accounts system would have had this flagged up as a potential issue a lot earlier.

If the management want to make a real statement, besides obviously delivering on previous pointers to where the business would be heading, it would be for them as a group to buy a substantial number of shares.

So there it is, very strong performance, and they clearly wanted to get the buyback out of the way at lower prices.

They are close now to spending the £15 million in this round of buybacks, so this will have been done in half the time they originally anticipated. Getting it done before the trading update, so potentially a positive sign.

It's been a while since DGE has issued one of these. Pointer to the state of wider global economy. Gives DGE the opportunity to buy back far more shares now, that is as long as they don't pull the buyback programme.

Institutional holder buys nearly a million shares and Mears is buying shares back everyday and yet the price is drifting lower. Too convenient

As expected a new round of share buybacks has been announced

Mears perhaps should either have mentioned today with the Interims or put a separate RNS out that they suffered a legal defeat two days ago that will be costly - £6.5 million. https://www.building.co.uk/news/high-court-orders-mears-business-to-pay-housing-group-65m-following-contract-row/5124451.article

It is referred to under Provisions in the Interims, but no mention they have actually lost the case.

Positive interims building on the recent profit upgrade message.

They are the only bidder for the massive Scottish contract.

Share buyback will be completed ahead of schedule (no surprise of course with recent buying), and the pointer that the Board may introduce a further buyback programme.

There could be many reasons for Milton selling, some of which could be due to their own investment situation rather than anything specifically relating to Mears, so I wouldn't necessarily take it as a negative for Mears going forward.

I have never been a fan of share buybacks as I have seen examples where large sums have basically been flushed down the toilet. One example was the old Cable & Wireless. The company that took over part of C&W - Liberty Global has also engaged in big buybacks and the share price has gone backwards. If the excess capital is not being used for investment purposes I would prefer a special dividend. But there will be some who argue for buybacks for tax reasons and some directors have an element of their remuneration package based on share price increase.

So we have our answer - they have been hoovering up shares sold by the Premier Miton Group. Would the seller have sold without the buyback in place?

4.1 million shares now bought, which means half of the £20m allocated has been spent in just 2 months when they said it could take 18 months to complete the full programme. There could be a big seller whose shares they are hoovering up.

Huge increase in buybacks over the last week. If this carries on the £20 million allocated for buybacks will be exhausted in a few weeks.

Looks like I need to revise my forecast, and £3.50 now must be achievable in the short term

This has momentum and £3 appears within reach. If it gets there anybody who got in at £2 around the time of the results will have a nice 50% profit

Thing not think!!!

Private investors often get shafted, so every chance that will happen here. I wonder if given there are related party issues that Wicks is on the legal hook and needs to keep the think afloat for now or he could be facing personal legal action against himself.

The fact that they need £5 million points to the company being insolvent, and the banks will not lend them any more. Announcements regarding funding via additional shares are normally made after all the funding has been agreed. Would not be surprised if the supposed £2.5 million new funding is Wicks and Nish. This looks dead in the water and the end game is being played out. Would not be surprised to see some legal actions being brought. What were the former non-executives actually doing other than collecting a pay cheque?

Surprised the RNS this morning only covers director purchases as I was anticipating that there might be some stake building going on.

Yes, it would be technically insolvent if it cannot service the debt on the due dates and reliant on their banks to keep operating.
I wonder if we will see any RNS today as anybody who has built a 3% stake I believe has 48 hours to notify