Conygar’s 52-week low prompts share buy-back
Conygar, the publicly listed developer active on projects at Llandudno Junction and Holyhead, has bought back more than £1m of shares as it looks to shore up its share price after hitting a 52-week low last week.
Conygar Investment Company bought 853,182 shares on Thursday 24 March at 162p a share, equivalent to around 1% of the shares in circulation.
The share price hit 162p on Thursday, compared to a 52-week high of 187p in April 2015. The company was trading at 164p this morning, valuing it at £129m.
Last month, Conygar received planning consent for a new Tesco superstore in Llandudno Junction. The company has extensive interests in Anglesey and has been planning a major mixed0use marina development at Holyhead in joint venture with Stena Line for several years.