Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Limited share liquidity sees GlobalData amend buyback programme

(Sharecast News) - GlobalData announced a modification to its £10m share buyback programme on Friday, designed to return surplus capital to shareholders. The AIM-traded company originally set a limit on daily share repurchases to no more than 25% of the average daily trading volume, based on the 20 trading days prior to each purchase.

However, due to the limited liquidity of its ordinary shares, GlobalData said it had amended the terms of the buyback.

The revised programme allowed the company to purchase up to 50% of the average daily trading volume on any given trading day.

GlobalData noted that the adjustment exceeds the 25% limit initially set, which means the company would not benefit from the exemption under Article 5(1) of the UK Market Abuse Regulation.

At 0803 BST, shares in GlobalData were up 0.87% at 219.9p.

Reporting by Josh White for Sharecast.com.

Share this article

Related Sharecast Articles

Helical joint venture secures funding for City development
(Sharecast News) - Helical announced on Friday that, in joint venture with Places for London, it had secured a £125m development financing facility from HSBC to fund the construction of 10 King William Street, an over-station office scheme above Bank station in the City of London.
Entain rallies as US hedge fund Corvex ups stake to 5.3%
(Sharecast News) - Ladbrokes owner Entain surged to the top of the FTSE 100 on Friday as it emerged that US activist hedge fund Corvex Management has upped its stake in the Ladbrokes owner to about 5.3%.
Berenberg raises target price on Pinewood Technologies
(Sharecast News) - Analysts at Berenberg raised their target price on software firm Pinewood Technologies from 455.0p to 510.0p on Friday after the group's FY24 earnings came in ahead of consensus.
Transense Technologies signs US distribution deal with Haltec
(Sharecast News) - Transense Technologies announced a strategic distribution agreement with Haltec Corporation on Friday, as part of a significant expansion of its tyre inspection tools in the US market.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.