Diversified Energy Company PLC (LON/NYSE: DEC) has announced an update regarding its share buyback programme announced on June 27, 2023.
Since the Company launched the Programme on June 27, 2023, it has repurchased 989,262 shares of 20p each in the Company through the Programme. In accordance with the approvals given at the Annual General Meeting held May 2, 2023, and taking into account Ordinary Shares already repurchased in connection with the Programme, the Company therefore has the remaining authority to buy back up to 3,881,238 of the Ordinary Shares.
To facilitate the Programme, Diversified has today entered into an engagement with Peel Hunt LLP (“Peel Hunt”) pursuant to an engagement letter under which the Company has issued an irrevocable instruction providing Peel Hunt with the authority to repurchase Ordinary Shares in the Company subject to certain agreed parameters. Purchases may continue during any closed periods of the Company, and any purchases of shares made during closed periods pursuant to the Programme shall be made independently of and uninfluenced by the Company.
