Three developing stories at the UK stock market open.
1. £25m share buy back underway at WOSG
Watches of Switzerland Group LON:WOSG has this morning announced that it will initiate a £25m share buy back, reflective of the strength of the company’s balance sheet. This is part of the already declared capital allocation program that will see prioritising of investment for growth through showroom elevation, new projects and acquisitions, before returning any surplus.
2. Vinanz explores dual NASDAQ listing
Vinanz [LON:BTC], a company that only arrived on the main board at the start of the year, has this morning announced that it is exploring the possibility of a dual listing on NASDAQ. The bitcoin miner, domiciled in the British Virgin Islands wants to aggressively build out its North American bitcoin mining fleet and has engaged a leading US law firm to advise here.
3. 22nd year of dividend growth at Clarkson
Shipping services firm Clarkson LON:CKN has published full year results noting record pre-tax profits, a forward order book some 7% higher and a 7% increase in dividends, marking the 22nd consecutive year that shareholder payouts have been increased. In terms of the outlook, management noted that the opportunities remain significant, as demand factors provide a complex backdrop for market growth in the medium term. That said they also acknowledge markets softening as economies grapple with the immediate impacts of the recent phase of change.
