By Ian Walker
Johnson Service Group said it plans to switch its listing to London's main market following talks with its largest shareholder, and after trading 17 years on the junior market.
The textile services provider said Wednesday that it doesn't plan to raise new money as part of the listing change, which it expects to happen early August. It has been listed on London's junior AIM since June 10, 2008.
Johnson added that it plans to extend its share buyback by 15 million pounds ($20.3 million) through to the end of this year. It said in March that the board planned to return 30 million pounds via share buybacks and started the first 15-million-pound part on March 5.
Shares closed Tuesday at 148.6 pence, giving the company a market capitalization of 562.7 million pounds. They are currently up 9.6% over the year to date.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 04, 2025 02:47 ET (06:47 GMT)
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