Gemfields Group Ltd - London-headquartered gemstones supplier - Begins $10 million share buyback programme, after receiving approval from shareholders at its extraordinary general meeting, held late last month.
‘The share buy-back represents an opportunity to promote Gemfields’ financial success and is a good use of surplus cash, on the basis that Gemfields is able to invest in itself at an attractive, low enterprise valuation and simultaneously enhance future earnings per share for the benefit of shareholders,’ Gemfields says.
London current stock price: 18.55 pence, up 4.5% on Tuesday
12-month change: up 45%
Johannesburg current stock price: R 380.00, up 2.7% on Tuesday
12-month change: up 31%
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