Burford Capital (BUR) said Monday its board has authorized a $20 million share buyback program to repurchase just under 21.9 million ordinary shares, with no par value per share.
The repurchase program was approved in connection with Burford's future obligations under its Deferred Compensation Plan, the company said, adding it may buy back up to 21,864,608 ordinary shares.
The acquired ordinary shares will initially be held in treasury and subsequently could be used for various compensation-related purposes, including short- and long-term incentive compensation, equity, equity-based and deferred compensation plans, Burford said.
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