Driver Group plc commences an Equity Buyback Plan for 5,261,072 shares, representing 10% of its issued share capital, under the authorization approved on March 5, 2024.
June 18, 2024 at 11:02 am
Share
Driver Group plc (AIM:DRV) commences share repurchases on June 17, 2024, under the program mandated by the shareholders in the Annual General Meeting held on March 5, 2024. As per the mandate, the company is authorized to repurchase up to 5,261,072 shares, representing 10% of its issued share capital. The minimum purchase price will be 0.4 pence per share and the maximum repurchase price will be 105% of the average market value of an ordinary share in the company for the five business days prior to the day the purchase is made and the value of an ordinary share calculated on the basis of the higher of the price quoted for the last independent trade of and the highest current independent bid for any number of the company?s ordinary shares on the trading venue where the purchase is carried out. The authority shall expire on the date which is 15 months from the passing of this resolution or if earlier, at the conclusion of the company?s next annual general meeting save that the company may, before the expiry of the authority granted by this resolution, enter into a contract to purchase ordinary shares which will or may be executed wholly or partly after the expiry of such authority. As of February 5, 2024, the company had 1,352,140 shares in treasury.
On June 12, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to £0.25 million worth of its shares. The repurchase program will be funded from the company's existing cash resources. The repurchase shares will be held in treasury.
Diales PLC, formerly Driver Group PLC, is a United Kingdom-based multi-disciplinary consultancy. The Company provides specialist commercial management, planning, programming and scheduling, project management, dispute resolution and expert witness services, to the global construction and engineering industries. It offers complete solutions throughout the project lifecycle, providing services in dispute avoidance and resolution, and supporting the legal profession in arbitration, litigation, and alternative dispute resolution. Its expert services include quantum damage, delay analysis, project management, adjudicators, arbitrators, mediators and technical expertise. Its advisory services include commercial and contract, dispute resolution, planning and programming, pre-contract, quantity surveying, building information modeling, and training. It serves various sectors, including building, energy, mining, process and industrial, marine, transportation, and oil and gas.
Driver Group plc commences an Equity Buyback Plan for 5,261,072 shares, representing 10% of its issued share capital, under the authorization approved on March 5, 2024.
DIALES PLC 
