INVESTORS have fallen in love with internet dating company Cupid, sending its shares up 8%, after it gained approval for a multimillion-pound cash return.
At a meeting in Edinburgh, shareholders in Cupid – which is behind brands such as Flirt.com and Benaughty.com – supported proposals to buy back up to 10% of the company's shares.
This could amount to £15 million at is current market value of £152 million.
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Cupid, headed by chief executive Bill Dobbie, said it had put in place an irrevocable share purchase programme that will be undertaken independently by brokers Peel Hunt and Numis, to be carried out from January 7 to March 4.