- Globaldata
- 06 February 2025 09:48:35
Source: Sharecast
The company said it would provide further updates on the timing and process of the move in due course.
Alongside the announcement, GlobalData launched a £50m share buyback programme, marking its third such initiative in recent months.
The latest buyback followed completion of two previous programmes, which together returned £30m to shareholders.
Investec Bank had been appointed to manage the buyback, with purchases taking place in the open market and all repurchased shares to be cancelled.
The firm said the programme would run until either the full £50m had been used, or 31 August, whichever came first.
In a governance update, GlobalData also confirmed that chairman Murray Legg would remain in his role beyond the nine-year tenure limit set by the UK Corporate Governance Code.
While the code typically restricted board chairs to a maximum of nine years from their initial appointment, the board said it had opted to extend Legg’s term for up to three more years to support continuity as the company pursued its growth strategy.
Legg and all other directors would be subject to annual re-election at the upcoming annual general meeting in April.
“Our listing on AIM has been an important part of our growth journey to date,” commented chief executive officer Mike Danson.
“In the 2025 financial year, as we look to accelerate initiatives as part of our growth transformation plan 2024-2026, it's the right time to announce our intention to move to the main market listing in London.
“We have clear ambitions to drive GlobalData forward and believe this move will enable us to access a wider pool of capital to support our growth ambitions and attract additional investors and customers.”
GlobalData said it would release its full-year 2024 results on 10 March.
At 0929 GMT, shares in GlobalData were up 11.19% at 206.25p.
Reporting by Josh White for Sharecast.com.