// Frasers Group has announced plans to buy back up to £70 million in its own shares
// “The purpose of the programme is to reduce the share capital of the company,” Frasers said
Mike Ashley’s Frasers Group has began a new share buyback programme that will run until late-April.
The repurchase programme worth up to £70m begins on April 1st and ends on April 24, the day before the retailer ends its financial year.
Additionally, the maximum number of shares that may be purchased will be ten million ordinary shares.
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The group, which owns brands Sports Direct, Flannels, House of Fraser and Jack Wills, said the scheme has been launched with the aim of reducing the share capital of the company.
The new programme follows a buyback of the same amount it kicked off in December as well as one in October and May of last year.
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