The company is offering to buy back shares at 43p each following £105 million disposal of water dispenser unit.
Strix Group PLC (AIM:KETL, FRA:SG9), the kettle safety controls manufacturer, has launched a tender offer to return up to £10 million to shareholders at 43 pence per share, a premium of 10.5% to Tuesday's closing price of 38.9 pence.
The offer, which opens on 10 April and closes at 1pm on 30 April, represents up to approximately 10.1% of the company's issued share capital.
The capital return follows the completion of Strix's disposal of its Billi division, a maker of filtered water dispensers, which completed on 30 January 2026 and generated net proceeds of approximately £105 million.
The Billi sale delivered an absolute return of around three times Strix's original investment and left the group with a net cash position of approximately £35 million at completion.
Strix subsequently repaid its existing multi-bank debt facilities in full, retaining access to a £25 million undrawn revolving credit facility for additional liquidity.
The repayment is expected to reduce annual net interest costs to below £1 million, against approximately £7.5 million in 2025.
The company had already commenced a separate £10 million share buyback programme on 4 February, under which it has purchased 8,357,417 shares for approximately £3.4 million at an average price of 41.2 pence, and has now paused that programme pending completion of the tender offer.
Shareholders will vote on the tender offer at a general meeting on 30 April at the company's Isle of Man offices.
Strix said it would publish a full capital allocation framework, including strategic investment priorities, later in the year as part of a broader strategic update.