REG - Babcock Intnl Group - Launch of Share Buyback Programme

Babcock InternationalAnnouncement

Wed 18:30

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RNS Number : 3159S  Babcock International Group PLC  23 July 2025

23 July 2025

Babcock International Group PLC

Launch of £200 million Share Buyback Programme

Further to the announcement made on 25 June 2025, Babcock International Group
PLC ("Babcock" or the "Group"), the defence company, today announces the
commencement of its £200 million share buyback programme (the "Programme") in
respect of its ordinary shares of 60 pence each ("Ordinary Shares").

Effective immediately, the Group has entered into arrangements with Jefferies
International Limited ("Jefferies") and J.P. Morgan Securities plc ("JPMorgan"
and together with Jefferies, the "Brokers") in relation to the Programme,
which is a non‐discretionary share buyback programme to repurchase Babcock's
shares within certain defined parameters. The Programme will be conducted
independently and at the sole discretion of the two brokers within the
programme terms. Share purchases may continue during any closed period to
which the Group is subject during the duration of the Programme. The Programme
is expected to end by 31 March 2026.

The purpose of the Programme is to reduce the share capital of the Group
and/or to meet the Group's obligations under its employee share schemes. As
such, all Ordinary Shares purchased under the Programme will be cancelled or
transferred to treasury and may be used to satisfy future obligations under
the Group's employee share schemes.

Any purchase of Ordinary Shares under the Programme by the Brokers will be
carried out on the London Stock Exchange and/or other trading venues. Any
purchases of Ordinary Shares by the Group will be in accordance with the
general authority to purchase Ordinary Shares granted by its shareholders at
the Group's Annual General Meeting on 19 September 2024 (the "2024
Authority"). The maximum number of Ordinary Shares which the Group is
authorised to purchase under the 2024 Authority is 50,559,660 Ordinary Shares.
The Programme will be conducted in accordance with chapter 9 of the Financial
Conduct Authority's Listing Rules, Article 5(1) of Market Abuse Regulation
(EU) 596/2014 and the provisions of the Commission Delegated Regulation (EU)
2016/1052, both as they form part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 (as amended) which deal with buyback programmes.

JPMorgan and Jefferies may undertake transactions in Shares (which may include
sales and hedging activities, in addition to purchases which may take place on
any available trading venue or on an over-the-counter basis) during the period
of the Programme in order to manage its market exposure under the Programme.
Disclosure of such transactions will not be made by JPMorgan or Jefferies as a
result of or as part of the Programme, but JPMorgan and Jefferies will
continue to make any disclosures it is otherwise legally required to make.

Any purchase of Ordinary Shares under the Programme will be announced no later
than 7:30 a.m. on the business day following the day on which the purchase
occurs.

There is no guarantee that the Programme will be implemented in full.

 

 

For further information:

Babcock International Group PLC

Andrew Gollan, Director of Investor Relations
+44 (0)7936 039004

Kate Hill, Head of Financial Communications
+44 (0)20 7355 5312

 

Teneo

Harry Cameron/Camilla
Cunningham                               +44
(0)20 7353 4200

 

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