LONDON (dpa-AFX) - IMI plc (IMI.L) has announced that it has entered into a non-discretionary agreement with J.P. Morgan Securities plc to oversee the remaining portion of its ongoing £200 million share buyback programme, which was launched on 28 February 2025.
The objective of the programme is to reduce the company's share capital.
Under the agreement, JPMS plc will repurchase shares worth up to £100 million, acting as a riskless principal rather than as an agent for IMI. The total number of shares eligible for repurchase is capped at 25,641,826, based on the authority granted by shareholders at the company's Annual General Meeting on 8 May 2025, adjusted for any shares already repurchased under this authority.
Tuesday IMI.L closed at £1,948 or 1.04% higher on the London Stock Exchange.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
