CML Microsystems Announces Share Buyback and Updates Voting Rights

CML Microsystems ( (GB:CML) ) has shared an announcement.

CML Microsystems Plc announced the purchase of 155,000 ordinary shares at £2.15 each, which will be held in treasury, as authorized by shareholders at the 2024 Annual General Meeting. Following this transaction, the company’s issued share capital consists of 16,504,754 ordinary shares, with 593,895 held in treasury, resulting in 15,910,859 voting rights. This transaction aligns with the Financial Conduct Authority’s Disclosure and Transparency rules, impacting shareholders’ calculations regarding their interest in the company.

More about CML Microsystems

CML Microsystems Plc develops mixed-signal, RF, and microwave semiconductors for global communications markets. The company operates in the UK, Asia, and USA, targeting high-growth sub-segments within communication markets with significant barriers to entry. CML has a diverse customer base, including leading commercial and industrial product manufacturers, and is protected from the typical cyclicality of the semiconductor industry. The company is cash-generative, debt-free, and pays dividends, with growth driven by the demand for faster, more secure data transmission, telecom infrastructure upgrades, and the rise of private commercial wireless networks linked to the industrial internet of things (IIoT).

YTD Price Performance: -19.13%

Average Trading Volume: 14,668

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £37.35M

See more data about CML stock on TipRanks’ Stock Analysis page.