REG - Airtel Africa PLC - Transaction in Own Shares

Airtel AfricaAnnouncement

Wed 07:00

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RNS Number : 5404I  Airtel Africa PLC  14 May 2025

 

 

 

 

 

 

 

 

 

Airtel Africa plc

 

('Airtel Africa', or the 'Company')

 

Commencement of second tranche of share buy-back

 

London and Lagos, 14 May 2025: Airtel Africa, a leading provider of
telecommunications and mobile money services, with a presence in 14 countries
across Africa, is pleased to announce the commencement today of the second
tranche of its $100 million share buy-back programme (the "Programme"). This
is further to its announcements on 23 December 2024 and follows the completion
of the first tranche of the Programme.

The second tranche of the share buy-back will amount to a maximum of $55
million and is anticipated to end on or before 19 November 2025. The Company
has entered into an agreement with Barclays Capital Securities Limited
("Barclays") to conduct the second tranche of the buy-back and carry out
on-market purchases of its ordinary shares with the Company subsequently
purchasing its ordinary shares from Barclays. Under this agreement, Barclays
will act as riskless principal and will make decisions independently of the
Company.

The sole purpose of the buy-back programme is to reduce the capital of the
Company. As such, all shares purchased under the buy-back programme will be
cancelled.

Any purchases of ordinary shares under the buy-back programme will be carried
out in accordance with certain pre-set parameters set out in the agreement
with Barclays and in accordance with (and subject to the limits prescribed by)
the Company's general authority to repurchase ordinary shares granted by its
shareholders from time to time (at the annual general meeting on 3 July 2024,
shareholders gave the Company authority to purchase a maximum of 374,141,187
ordinary shares and following the completion of the previous buyback, the
remaining authority amounts to a maximum of 302,567,123 ordinary shares),
Financial Conduct Authority's UK Listing Rules 9.6 and the provisions of the
Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended). Purchases may
continue during any closed periods of the Company during the engagement
period.

 

-ENDS-

 

Enquiries

 

 Airtel Africa - Investor Relations

 Alastair Jones                                  +44 7464 830 011

 Investor.relations@africa.airtel.com            +44 207 493 9315
 (mailto:Investor.relations@africa.airtel.com)

 

 

 Airtel Africa - Group Company Secretary

 Simon O'Hara                             +44 207 493 9315

 

 

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money
services, with operations in 14 countries in sub-Saharan Africa. Airtel Africa
provides an integrated offer to its subscribers, including mobile voice and
data services as well as mobile money services both nationally and
internationally. The company's strategy is focused on providing a great
customer experience across the entire footprint, enabling our corporate
purpose of transforming lives across Africa.

www.airtel.africa (http://www.airtel.africa)

 

 

 

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