Mears Group has confirmed it will return up to £20m in surplus capital to shareholders through a new share buyback programme.
The housing and social care provider, which has its head office in Gloucestershire, said it would reduce its own share capital during the 18-month scheme, with any ordinary shares repurchased by the group during the period to be cancelled.
Bosses at the Aim-listed firm said investment firms Numis and Panmure Gordon had been appointed to conduct the programme on its behalf, and would independently make trading decisions in relation to the buyback of the company's ordinary shares.
