Brit hands brokers £50m authority for share buyback
Brit Insurance has granted its bankers the right to purchase up to £50m worth of shares over the summer, while the insurer is in its closed period. Citigroup Global Market U.K. Equity and Numis Securities will buy up ordinary shares of Brit Insurance Holdings of 75p each between 2 July 2007 and 3 September 2007.
The repurchased shares will all be held as treasury shares. Citi and Numis have been granted the authority to repurchase shares up to an aggregate value, including costs, of £50 million, including
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