Chemring Group PLC has announced the purchase of its ordinary shares of 1 pence each through Investec Bank plc. The company bought 49,566 ordinary shares at a weighted average price of 344.4956 pence per share. The lowest price per share was 340 pence, and the highest was 350 pence. These shares are intended to be canceled by the company.

The purchases were made as part of the buyback program announced by the company on 1 August 2023. The detailed breakdown of individual trades made by Investec on behalf of the company as part of the program has been provided. The trades took place on 9th April 2024, with varying numbers of shares purchased at different prices per share on the XLON trading venue.

The company's decision to repurchase its own shares indicates a strategic move to return value to its shareholders and potentially improve the company's financial metrics. This buyback program is a common corporate action that can signal confidence in the company's financial position and future prospects.