Cardiff Property Plc commences an Equity Buyback Plan for 179,057 shares, representing 14.99% of its issued share capital, under the authorization approved on January 14, 2021.
January 21, 2021 at 06:54 am
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Cardiff Property Plc (LSE:CDFF) commences share repurchases on January 21, 2021, under the program mandated by the shareholders in the Annual General Meeting held on January 14, 2021. As per the mandate, the company is authorized to repurchase up to 179,057 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for such shares is £0.20 per share and the maximum price which may be paid for such shares shall not be greater than 5% above the average of the middle market quotations for an ordinary share of the company taken from the daily official of The London Stock Exchange on the ten business days immediately preceding the day on which the share is contracted to be purchased. The repurchased shares will either be cancelled and the number of ordinary shares in issue reduced accordingly, or will be held in treasury. The share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting, or in fifteen months, whichever is earlier. As of November 23, 2020, the company had 1,194,511 ordinary shares in issue.
The Cardiff Property plc is a United Kingdom-based company specializing in property investment and development in the Thames Valley. The Company operates through two segments: property and other investment and property development. The Companyâs portfolio includes a range of office, retail and residential tenancies in Burnham, Bracknell, and Maidenhead. The Company's properties in Bracknell include 1-10 Market Street; Alston House, 25 Market Street; Gowring House Apartments; Gowring House Commercial, and Westview. The Company's properties in Egham include Heritage Court, Station Road and The White House. The Company's other properties include Tangley Place, Highway House, Maidenhead Enterprise Centre, Datchet Meadows, Tilehurst, Windsor Business Centre, and others. The total portfolio is primarily located to the west of London, close to Heathrow Airport and in Surrey and Berkshire.
Cardiff Property Plc commences an Equity Buyback Plan for 179,057 shares, representing 14.99% of its issued share capital, under the authorization approved on January 14, 2021.