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Yesterday they said the company had decided to return cash it no longer needed ‘to shareholders whose support we appreciated at a time of great uncertainty’.
It has already spent £4.6million of what it raised on acquisitions.
But after keeping what it needs for further takeovers and potential Covid-19 disruption, it has £3million of spare change to spend on a share buyback scheme – starting with immediate effect. Shares rose 2.7 per cent, or 1.2p, to 45.2p following its announcement.
Stock Watch - Eenergy Group
Shares rose in energy technology provider Eenergy Group after it announced the takeover of a rival.