Boku extends buyback programme to another 4m shares

(Sharecast News) - Boku announced the completion of its share buyback programme on Tuesday, repurchasing four million common shares at an average price of 182.14p each. The AIM-traded firm said the repurchased shares, representing about 1.3% of its issued share capital at the start of the programme, were being held in treasury.

Its board had now approved an extension of the programme, allowing for the repurchase of up to an additional four million common shares.

Investec Bank had been instructed to conduct the buyback extension, which would run from 11 February until 30 June, unless the maximum number of shares or aggregate consideration was reached earlier.

Under the extension, the maximum price paid per share would be limited to 105% of the trailing five-day average mid-market price.

The programme would be conducted within the board's authority to hold up to 5% of the company's common stock in treasury.

Boku noted that due to limited liquidity in its shares, daily repurchases could represent a significant proportion of trading volume and could exceed 25% of the average daily volume.

As a result, the company would not benefit from the exemption under Article 5(1) of the UK Market Abuse Regulation.

At 1106 GMT, shares in Boku were down 0.6% at 167p.

Reporting by Josh White for Sharecast.com.