Auto Trader Group plc has announced the purchase of 180,000 of its ordinary shares for cancellation at an average price of 738.4271p per share. Following this transaction, the company now has 909,136,805 ordinary shares in issue and holds 4,924,083 ordinary shares in treasury, resulting in a total of 904,212,722 voting rights. This information is crucial for shareholders to determine if they are required to notify any changes in their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
The detailed schedule of purchases made by Deutsche Numis on behalf of the company as part of the buyback program has been provided. The schedule includes the number of ordinary shares purchased, transaction prices, and the time of transactions on the trading venue. This level of transparency is essential for stakeholders and investors to understand the specifics of the share buyback program and its impact on the company's share structure.
The company's decision to repurchase its own shares at the disclosed prices and quantities provides insight into its capital allocation strategy and financial position. This move may also indicate the company's confidence in its future performance and its belief that the current share price undervalues the business. The announcement and detailed breakdown of the share repurchase further demonstrate Auto Trader Group plc's commitment to maintaining open communication with its shareholders and the investment community.