Chemring Group PLC has announced the purchase of 27,038 of its ordinary shares of 1 pence each through Investec Bank plc. The shares were bought on 23rd January 2024, with the lowest price per share at 347.0 pence and the highest at 350.0 pence, resulting in a weighted average price per day of 348.2373 pence. The company intends to cancel the purchased shares.

This purchase is part of the buyback program announced by the company on 1st August 2023. The aggregate information shows that the volume-weighted average price was 348.2373 pence, with a total aggregated volume of 27,038 shares. The lowest price per share was 347.00 pence, and the highest was 350.00 pence.

A detailed breakdown of the individual trades made by Investec on behalf of the company as part of the program is also provided. The trades took place on 23rd January 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 and subsequently cancel them indicates a strategic move to return value to its shareholders and potentially improve earnings per share. This action may also reflect the company's confidence in its financial position and future prospects.