JPMorgan Asia Growth & Income PLC Boosts Treasury by Repurchasing Over 24K Shares

In a bold financial exercise JPMorgan Asia Growth & Income PLC has replenished its treasury with the buyback of 24,639 ordinary shares. The transaction took place at an impressive price of 340.704 pence per share. This transpires to a considerable boost for the company’s treasury holding, now standing at 26,839,399 ordinary shares. The move effectively reduces the number of shares in issue by lessening the total tally minus treasury shares to 70,957,594.

The company has strategically indicated its intention to only re-issue shares in the treasury when they can achieve a premium to the net asset value. The implementation of this approach could potentially amplify the projected profits of the company when times are more economically favourable.

This information has been duly posted by RNS, the news service of the London Stock Exchange, maintaining the transparency of the company’s actions and adherence to the regulatory norms of the Financial Conduct Authority in the United Kingdom.