Phoenix Digital Assets PLC - London-based investor in blockchain assets - Starts share buyback programme worth up to £7.5 million, which was approved by shareholders at its annual general meeting on July 25. Says repurchases will be funded from distributable reserves, starting with its cash reserves or divestments of part of its assets. The buyback is particularly aimed at shareholders who ‘participated in the tender offer but have residual shareholdings and wish to exit these share positions’. The tender offer was announced back in June and was oversubscribed. The buyback programme, with Phoenix authorised to buy up to 140.0 million shares, 30.4% of its total, will expire on July 23 next year.

Current stock price: 3.75 pence, up 5.6% on Monday on Aquis Stock Exchange in London

12-month change: more than doubled

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