SafeCharge spends £4.3 million in share buyback


SafeCharge share buyback

Payments services and technologies provider SafeCharge International Group Ltd (LON:SCH) has announced that it recently completed a £4.29 million (USD $5.4 million) share buyback.

On January 23, 2017, it purchased for treasury 2,200,000 ordinary shares at a price of 195 pence per share.

SafeCharge has not announced a formal share buyback program, so it remains to be seen if this is a one-off purchase, or if the company has a larger buyback program in mind.

SafeCharge has seen its share price stuck near 52 week lows despite recently reporting record Q4 Revenues as itsTier 1 customer list continues to grow.

SafeCharge competitor Paysafe Group Plc (LON:PAYS) has had some fairly good results recently following its announcement of a planned £100 million buyback program. To date, Paysafe has spent about £8 million.

SafeCharge one-year share price chart. Source: CNBC.

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SafeCharge spends £4.3 million in share buyback

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