Aeorema Communications (AIM:AEO) PLC shares moved higher on Thursday after the strategic communications and live experience group launched a new share buyback program covering up to 5% of its issued share capital.
The company intends to repurchase up to 471,775 ordinary shares using existing surplus cash resources, with all shares acquired under the program to be cancelled. The board said the move reflects its confidence in the group's long-term outlook.
Aeorema shares rose roughly 9% to around 67p shortly after the market opened, from a previous close of 61.5p.
The buyback follows shareholder approval secured at Aeorema's annual general meeting on 9 June 2026.
It will run until either the maximum 471,775 shares have been purchased or the company's next AGM in 2027, whichever occurs first.
Shard Capital Partners LLP has been appointed to execute the purchases independently of Aeorema and will make trading decisions within the parameters of the program.
The maximum price paid for shares will remain subject to the limits approved by shareholders, including a ceiling linked to 105% of the average middle-market quotation over the 5 business days preceding a purchase.
Aeorema noted that its shares have relatively low liquidity, meaning purchases on individual trading days may represent a higher proportion of average daily trading volumes than would normally apply under UK market-abuse regulations.
The company cautioned that there is no guarantee the buyback will be completed in full or that any purchases will ultimately be made.
At the date of the announcement, Aeorema had 9,435,500 ordinary shares in issue and held no shares in treasury.
