London Capital Group (LCG:LN) has purchased further of its own shares on the open market, representing the second time that the company has undertaken this activity within the last month.
Today, the company has published an announcement via the London Stock Exchange, the venue upon which the company’s shares are listed, that it has purchased 1,000,000 ordinary shares of 10p each in LCG, at a price of 33p per share, to be placed into Treasury. Upon settlement of the above transaction, the Company’s issued share capital remains unchanged at 55,800,908 ordinary shares, of which 54,800,908 ordinary shares in issue carry voting rights and of which 1,000,000 ordinary shares will be held in Treasury.
The above figure (54,800,908) represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Rules and Transparency Rules.
Last week, LeapRate reported that Mr. Sabet had paid $227,500 of his own funds to purchase corporate stock. Today, Mr. Sabet increases this investment in the firm over which he presides by investing a further $330,000 and purchasing 1,000,000 ordinary shares of 10p each in the Company at a price of 33p per share. Following this transaction, Mr Sabet holds 1,650,000 ordinary shares in the Company representing approximately 3.01 per cent of the Company’s total voting rights.
For the full announcement from London Stock Exchange, click here.