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Vectura to launch share buyback, issue special dividend

London-listed Vectura Group PLC said it is looking to buy back up to £20 million worth of its shares.

Vectura also proposed to pay a special dividend of £40 million to its investors, accompanied by a share consolidation, subject to shareholder approval.

As far as the buyback is concerned, the on-market repurchases will commence after the share consolidation. The company plans to initially repurchase £10 million of its shares, followed by another £10 million at a later date.