St. James’s Place has started its share buyback programme today, 27 August, with a maximum consideration of £32.9m at 6p per share.
The buybacks are set to complete at the latest by the end of December and were announced in July’s half-year results. St James’s Place stated that the sole purpose of the buybacks was to “reduce the capital of the company”.
See also: St. James’s Place hires Aviva Investors’ Andy Ford as responsible investment head
JP Morgan Securities will purchase ordinary shares as “riskless principal” with sale onto SJP, who was granted authority by shareholders in its 2024 annual general meeting.
This story was written by our sister title, Portfolio Adviser
