Fuller’s Implements Share Repurchase, Altering Voting Influence

The Reader Wall Google News

London-based Fuller, Smith & Turner P.L.C., also known as Fuller’s, recently announced a significant transaction involving the repurchase of its own shares. This action was conducted on the London Stock Exchange as part of the company’s share buyback program announced in November 2023.

Details of the Buyback

Fuller’s has repurchased 9,240 ‘A’ ordinary shares, each with a nominal value of 40 pence, through Numis Securities Limited. It is worth noting that each share was purchased at a uniform price of 680 pence, with the volume-weighted average price also reaching 680 pence per share.

Next Steps

Following this transaction, Fuller’s intends to hold the repurchased shares in Treasury. As a result, the company’s listed issued share capital has been affected, now consisting of 41,082,339 ‘A’ ordinary shares. Out of this total, 3,493,798 shares are held in treasury.

Implications for Voting Rights

After the buyback, Fuller’s has a total of 37,588,541 voting rights. This figure is significant for shareholders, as it serves as the denominator for calculating notifications of interest or changes in interest as outlined by the FSA’s Disclosure and Transparency Rules. This development highlights the ongoing changes in Fuller’s financial dynamics and the implications for its shareholders.