Aptitude Software Group plc (LSE:APTD) announces a share repurchase program. Under the program, the company will repurchase up to £20 million worth of its common shares. The maximum price (exclusive of expenses) at which a share can be repurchased is an amount equal to the higher of 105% of the average of the middle market quotations for a share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the company agrees to buy the shares concerned; and the higher of the price of the last independent trade of any share and the highest current independent bid for a share in the trading venue where the purchase is carried out.

The minimum price at which a share can be repurchased is 7.33 pence per share. The purpose of the program is to reduce the share capital of the company and to return capital to those shareholders. The program will be financed from existing cash resources.

The purchased shares will be held by the company in treasury for later reissue or cancellation. The program will be valid for the next 3 financial years. As of March 20, 2024, the company had 57,337,611 issued and outstanding shares and had no shares in treasury.