Hunting Plc said on Tuesday that it would extend its existing share buyback programme by up to a further $20m, taking the total maximum allocation to $60m, citing sustainable cash generation and a strong balance sheet.
The FTSE 250 precision engineering group announced in August a $40m buyback of its ordinary shares and said the extension followed further consultation with major shareholders after it rebalanced its capital allocation priorities in July.
It said the maximum number of shares that could be repurchased under the programme remained unchanged at 24,724,518, and any shares bought back would be cancelled to reduce the company's share capital.
The programme would be carried out within the authority granted by shareholders at the 2025 annual general meeting.
At 0831 GMT, shares in Hunting were flat at 390.5p.
Reporting by Josh White for Sharecast.com.