(RTTNews) - Man Group plc (MNGPF.PK, MNGPY.PK, EMG.L) announced Friday that it will commence a new share buyback programme of up to $100 million.
The share repurchase will run from September 18 through to September 17, 2021. The number of shares to be acquired is estimated to be around 66 million.
With the share buyback, the company intends to reduce its share capital and to enable it to meet obligations arising from employee share option programmes, or other allocations of shares to employees or to members of the administrative, management or supervisory bodies.
The share buyback is in line with the company's policy to distribute capital to shareholders while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities.
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