Michelmersh Brick Renews Share Buyback Programme
Why we think this is neutral
The RNS announcement is a general update on the renewal of Michelmersh Brick's share buyback programme. While this may be seen as a positive move to return value to shareholders, the announcement does not contain any of the mandatory news types that would warrant a stronger sentiment score.
Key Points
- Michelmersh Brick to re-commence a share buyback programme of up to £2 million
- Buybacks will be conducted within pre-set parameters and in accordance with regulations
- Purpose is to reduce share capital and return value to shareholders
Summary
The building materials company has announced the renewal of its share buyback programme, aiming to repurchase up to £2 million of its own shares.
Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer, has announced that it intends to re-commence a share buyback programme of up to £2 million. The purpose of the programme is to reduce the company's share capital and return value to shareholders. The buybacks will be conducted within certain pre-set parameters and in accordance with relevant regulations.
GENERAL UPDATE