Hunting PLC launches $40 million share buyback programme

Hunting PLC (LSE: HTG) announced the launch of a share buyback programme for up to $40 million, the precision engineering group said in a statement.

The programme will be conducted in three tranches over approximately 18 months. The first tranche of up to $15 million begins immediately and is expected to conclude in the fourth quarter of 2025. The second tranche, also valued at up to $15 million, will start after the first tranche ends and is anticipated to complete in early 2026. The final tranche of up to $10 million is targeted for completion during the second quarter of 2026.

The company has entered into agreements with three brokers to execute the buybacks: RBC Europe Limited will handle the first tranche, Canaccord Genuity Limited will manage the second, and Joh. Berenberg, Gossler & Co. KG will oversee the third tranche. The brokers will operate as "riskless" principals and make trading decisions independently of the company.

All shares purchased under the programme will be cancelled to reduce the company's share capital. The maximum number of shares authorized for purchase is 24,724,518 ordinary shares, based on authority granted at the company's annual general meeting on April 16, 2025.

The London-based company, which operates across oil and gas precision engineering markets, cited its sustainable cash generation and strong balance sheet as factors supporting the buyback decision. The programme follows the company's July 9, 2025 trading update and represents a rebalancing of capital allocation priorities after discussions with major shareholders.

Hunting maintains operations in 11 countries and reports financial results across five operating segments. The company will announce share purchases on the business day following each transaction.

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