Funding Circle Executes Share Buyback and Cancels Shares

Funding Circle Holdings plc, a prominent company listed on the London Stock Exchange, announced the purchase and cancellation of its own shares as part of an ongoing buy-back initiative. The company confirmed that on April 3, 2024, it acquired 280,000 ordinary shares at prices ranging from 40.40p to 43.30p, with a volume-weighted average price of 41.8980p per share.

This strategic move aligns with the buy-back scheme publicized on March 7, 2024, emphasizing the firm’s dedication to optimizing shareholder value. By removing these shares from the market, Funding Circle intends to cancel them, thereby adjusting its issued capital to 358,033,191 ordinary shares. This development implies a potential increase in per-share value for remaining shareholders.

Funding Circle highlighted that this adjustment will serve as the new base for shareholders and other stakeholders for notifications under the FCA's Disclosure and Transparency Rules. The detailed transactions, executed through Numis Securities Limited, underscore the company’s active management of its share capital to foster investor confidence and market stability.