FGEN Extends Buyback Programme
FGEN has increased its share buyback to a total maximum aggregate consideration of £30 million via a further £10m being allocated to the Programme.
The initial Programme to return up to £20 million to shareholders via on market share buybacks of the Company’s ordinary shares in FY25, is now largely complete. The extension of the Programme will be funded from the Company’s own resources in accordance with its stated approach to capital allocation.
The share repurchase programme will be executed using the authority granted by shareholders at FGEN’s 2024 annual general meeting on 13 September 2024 to acquire up to 14.99% of its issued share capital at that time. That authority will expire at the Company’s next AGM, expected to be held during September 2025 and, to the extent required, the share repurchase programme will be continued using any renewal of such authority at the Company’s 2025 AGM.
We interviewed the investment team behind the trust, who outlined the financial and operational highlights from the most recent financial results, but also reaffirmed their confidence in FGEN’s investment strategy.