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Share Price:
Down 2,070.00p
Change Today:
-25.00p
Market Cap:
4,118.98m
Sector:
Equity Investment Instruments

Pershing Square announces another $100m share buyback

By Josh White

Date: Tuesday 29 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Pershing Square Holdings announced an additional share buyback programme on Tuesday, for $100m of its outstanding public shares on the London Stock Exchange and Euronext Amsterdam.
The FTSE 250 company said the programme would begin following the completion of its previously-announced $100m share buyback programme.

It explained that the programme would be accretive to net asset value per share, and would reduce the firm's capital.

As at 28 October, Pershing Square had completed 99.3% of the previously-announced share buyback programme, in which it had repurchased a total of 5,346,389 public shares at an average price of $18.57.

Since it commenced its first share buyback program on 2 May 2017, the company said it had repurchased a total of $476m of public shares, representing 33,092,276 shares at an average price of $14.40.

Jefferies International would continue in its role as sole buyback agent for the programme, the board confirmed, which would enable the purchase of shares during closed periods.

"Shares repurchased by the company will be held in treasury," the Pershing Square board said in its statement.

"The company is holding shares in treasury to satisfy normal course conversion requests from management shareholders.

"Any such conversions will not change the number of shares outstanding as calculated on a fully diluted basis."

As at 1204 GMT, shares in Pershing Square Holdings were unchanged in London at 1,444p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PSH Market Data

Currency UK Pounds
Price 2,070.00p
Change Today -25.00p
52 Week High 2,260.00p
52 Week Low 1,134.00p
Volume 92,868
Shares Issued 198.98m
Market Cap 4,118.98m

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