Law Debenture Corp PLC Subsidiary Purchases Own Shares
Why we think this is neutral
The RNS announcement is about a subsidiary of Law Debenture Corp PLC purchasing a small number of the company's own shares. This is a routine corporate action and does not contain any significant news that would impact the company's performance or outlook.
Key Points
- Subsidiary purchased 5,831 ordinary shares in the company
- Shares purchased at £10.00 per share
- Shares were purchased as a reinvestment of dividends from the Employee Share Ownership Trust
Summary
The investment firm's subsidiary has purchased a small number of the company's own shares as part of an employee share ownership scheme.
Law Debenture Corp PLC has announced that its wholly owned subsidiary, The Law Debenture Trust Corporation (Channel Islands) Limited, has purchased 5,831 ordinary shares in the company at a price of £10.00 per share. The shares were purchased as a reinvestment of dividends received from shares held in the company's Employee Share Ownership Trust, which were previously granted to senior staff under employee share schemes.
GENERAL UPDATE