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(Sharecast News) - Accesso Technology Group announced the launch of a share repurchase programme of up to 8m on Tuesday, aimed at reducing its share capital.
The AIM-traded company said the buyback would be conducted on-market, and executed by Deutsche Numis on its behalf.
It said the programme was launched immediately, and would continue until the authorised amount had been repurchased, subject to shareholder approval at its upcoming annual general meeting.
All shares repurchased under the programme would be cancelled.
The company said the launch reflected its confidence in Accesso's financial position, and was intended to enhance shareholder returns.
It said the programme would be carried out in accordance with UK market regulations, though Accesso noted it may, under certain conditions, exceed the usual 25% daily volume limit.
As of 15 April, Accesso had 41,008,901 ordinary shares in issue.
At 1312 BST, shares in Accesso Technology Group were down 0.48% at 418p.
Reporting by Josh White for Sharecast.com.
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