IP Group plc (GB:IPO) has released an update.
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IP Group plc has announced the extension of its share buyback program by an additional £10m, with the intention to cancel any purchased shares, thereby reducing the number of shares in issue. Following successful exits that generated £45m, the company has completed the cancellation of 67,292,636 treasury shares, corresponding to 6.76% of its total voting rights, as part of its capital return strategy. Additionally, IP Group anticipates significant cash returns from the sales of portfolio companies Featurespace and Intelligent Ultrasound Group’s Clinical AI business.
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