Mears Group PLC on Tuesday launched a further £15 million share buyback programme.

In April, the Gloucester, England-based housing and social care provider had announced a £20 million share buyback.

Mears explained that the purpose of the new buyback is to return additional surplus capital to shareholders and reduce the company’s share capital.

It is expected that the programme may take around six months to complete.

Its shares were up 0.2% to 273.50 pence each in London on Tuesday around midday.

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