Capricorn Energy plc has restarted the US$25 million share buyback, first announced on in May 2023, of which $21m has to date been repurchased.
The company said that the share buyback aimed to reduce its share capital, with the purchased shares to be held in treasury.
Capricorn is authorised to purchase a maximum 10,815,854 existing ordinary shares (14.99% of its issued ordinary share capital, excluding 72,153,802 treasury shares) as approved at the general meeting in April 2024.