Sunderland’s ScS buys back 10.7% of its shares

Sunderland-based furniture and floorings company ScS Group announced the completion of £7 million of share buyback programmes — representing 10.7% of the firm’s issued share capital.

“Further to its announcement on 25 November 2022, the group is pleased to announce that the share buyback programme of up to £3.1 million has been completed,” said ScS.

“The new programme, together with the previous programme announced by the group on 22 March 2022, has seen a total of 4,057,981 ordinary shares repurchased and cancelled, representing 10.7% per cent of the group’s issued share capital as at 22 March 2022.

“In total, ScS has returned £7 million to shareholders.

The group’s issued share capital is currently 33,954,674  ordinary shares, each with one voting right.

“The total number of voting rights in the group is therefore 33,823,314 (which excludes ordinary shares held by the group in treasury for the benefit of its Employee Benefit Trust).”