IMI Acquires Thousands of Its Own Shares for Cancellation, Aiming to Enhance Shareholder Wealth

In an intriguing move, engineering titan IMI Plc has opted to buy back a plethora of its own shares, confirming its intent to enhance value for shareholders. The company, renowned for its specialist engineering prowess, followed the announcement with a statement outlining plans to cancel these shares, thereby reducing the total number in circulation.

On 25th April 2025, IMI acquired a staggering 125,000 of its ordinary shares through Numis Securities Limited. The shares were bought at an average price of 1,777.0597 pence. The highest price paid hovered around 1,785.0000 pence per share, with the lowest dipping to 1,760.0000 pence per share. The volume-weighted average price per share settled around the same mark.

Most of these transactions occurred on the London Stock Exchange, Chi-X (CXE), and BATS (BXE), contributing to an aggregate number of shares purchased. Interestingly, this vast operation went unannounced on the actual date of purchase, leading to this corrective update.

This adept manoeuvre by IMI does not just reflect the company’s proactive approach, but is also an intelligent ploy to enhance economic profit. By reducing the number of shares available on the open market, the company is effectively augmenting the value of remaining shares, undoubtedly a delight for shareholders. This strategy ingeniously marries the bolstering of market sentiment with the direct delivery of increased shareholder value.