REG - Airtel Africa PLC - Transaction in Own Shares

Airtel AfricaAnnouncement

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RNS Number : 3589F  Airtel Africa PLC  22 May 2026

 

 

 

 

 

 

Airtel Africa plc

 

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

 

Commencement of share buyback programme

 

London and Lagos, 22 May 2026: Airtel Africa, a leading provider of
telecommunications and mobile money services with operations in 14 countries
across Africa, announces that it is today commencing a share buyback programme
(the "Programme").

The Programme will involve the repurchase of up to 1% of the Company's issued
share capital as at the date of this announcement and forms part of the
Company's broader approach to returning cash to shareholders, a key component
of its capital allocation policy. The Board's decision reflects the continued
strength of the Group's balance sheet and its ability to preserve financial
flexibility while supporting ongoing investment to capitalise on the
compelling growth outlook across the Group's footprint.

As the initial tranche of the Programme, the Company has entered into an
agreement with Barclays Capital Securities Limited ("Barclays") to conduct the
programme and carry out on-market purchases of its ordinary shares with the
Company subsequently purchasing its ordinary shares from Barclays. Barclays
will act as riskless principal pursuant to the agreement.

The agreement comprises two elements which will operate in parallel:

·      a non-discretionary element pursuant to which Barclays will
purchase up to $60m of ordinary shares (and not less than $50m) and will make
trading decisions independently of the Company; and

·      a discretionary element pursuant to which the Company may, at its
discretion and subject to the provisions of the Market Abuse Regulation (EU)
No 596/2014, provide instructions to Barclays for the purchase up to an
additional $50m of ordinary shares.

The agreement has commenced today and is anticipated to terminate no later
than 27 November 2026, unless terminated earlier in accordance with its terms.
The Company may in due course announce further tranches of the Programme as
may be required to fulfil its objective of repurchasing up to 1% of its issued
share capital as at the date of this announcement.

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

Any purchases of ordinary shares under either element of the buyback 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 9 July 2025, shareholders gave the Company authority to purchase a maximum
of 366,072,677 ordinary shares and following the completion of the previous
buyback programme, the remaining authority amounts to a maximum of 357,042,221
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). The discretionary arrangements may include irrevocable,
non-discretionary instructions to Barclays to continue to operate the buyback
programme during closed periods. Barclays will therefore operate the
discretionary element of buyback programme autonomously during those periods.

 

-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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