St James’s Place has launched a share buyback scheme to repurchase its ordinary shares, according to a stock exchange notice today (28 February).
The £92.6m share repurchase is aimed at reducing the company's capital and will take place over the coming months and will finish no later than 30 June 2025, the firm said. As part of the programme, SJP has embarked on an irrevocable non-discretionary agreement with JP Morgan Securities, which will see the latter purchase the former's ordinary shares. SJP profits hit £400m in 2024 SJP will then buy back the shares from JP Morgan subject to the authority agreed by shareholders at the firm's next annual general meeting. According to wealth manager, JP Morgan will "make its decisio...
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