Electronic trading major IG Group Holdings plc (LON:IGG) today announced that it has entered into non-discretionary instructions with Morgan Stanley & Co. International Plc to conduct the third tranche of the share buyback programme of up to £50 million (in accordance with certain pre-set parameters) and to make trading decisions in relation to the Programme independently of IG Group.
The sole purpose of the programme is to reduce share capital.
The Third Tranche, which will be for a maximum aggregate market value of £50 million, will commence on 3 April 2023 and will end on or before 31 August 2023. This will extend the size of the Programme to a total of up to £200 million.
The Third Tranche will take place within the limitations of the authority granted to the Board of IG Group at its annual general meeting, held on 21 September 2022. Pursuant to that authority, the maximum number of shares which remain available for purchase under the Third Tranche is 23,767,538.
