TI Fluid Systems PLC - Oxford, England-based company that designs and manufactures thermal management and fluid handling systems - To begin a share buyback programme to repurchase shares up to EUR40 million. Plans to execute the buyback in a series of tranches, each up to a maximum of EUR5 million. The first tranche begins on Wednesday and will end no later than March 29. Explains the purpose of the buyback is to reduce its share capital. The company's intention to begin a buyback in the second half of 2023 was originally announced in August alongside the publication of its half-year results.
Current stock price: 121.49 pence
12-month change: down 7.5%
By Heather Rydings, Alliance News senior economics reporter
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TI Fluid Systems (TIFS)