Grafton extends, expands share buyback programme
Building materials company Grafton Group announced an extension of its existing share buyback programme on Friday.
The FTSE 250 firm said the programme, originally set to expire on 31 January, would now continue for an additional five months until 31 May.
Additionally, it had increased the maximum aggregate consideration for the programme by £50m, bringing the total maximum aggregate consideration to £100m.
Under the extended programme, the maximum number of shares available for repurchase was 15,679,817.
The primary purpose of this programme extension was to reduce the share capital of the company
Grafton said it would largely maintain the same terms as announced on 31 August this year.
At 0856 GMT, shares in Grafton Group were up 0.88% at 852.6p.
Reporting by Josh White for Sharecast.com.