REG - Baker Steel Res.Tst. - Share Buyback Programme

Baker Steel Resources TrustAnnouncement

10/02/2026 07:05

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RNS Number : 3078S  Baker Steel Resources Trust Ltd  10 February 2026

 

BAKER STEEL RESOURCES TRUST LIMITED

(Incorporated in Guernsey with registered number 51576 under the provisions of
The Companies (Guernsey) Law, 2008 as amended)

 

 

10 February 2026

 

Share Buyback Programme

 

Baker Steel Resources Trust Limited (the "Company") is pleased to announce
the commencement of a share buyback programme to conduct market purchases of
ordinary shares of no par value ("Shares") in the Company in accordance with
existing authorities (the "Share Buyback").

 

The Company has entered into an irrevocable agreement (the "Buyback
Agreement") with its broker, Shore Capital Stockbrokers Limited ("Shore
Capital"), in relation to the Share Buyback whereby Shore Capital will make
the trading decisions concerning the timing of the market purchases of shares
independently of and uninfluenced by the Company, with such trading decisions
being in accordance with the terms of the Share Buyback. Purchases may
continue during any periods during the term of the Share Buyback when the
Company itself would be prohibited from dealing by the UK version of the
Market Abuse Regulation 596/2014/EU (which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018).

 

Under the Share Buyback, Shore Capital will repurchase shares within the
parameters set out below from the date of this announcement and will continue
until the earlier of the expiration of the General Authority (as defined
below) or until the number of Shares equal to the maximum pecuniary amount has
been purchased under the Share Buyback or the process is terminated or paused
(the "Buyback Period"). The Company reserves the right to terminate the
programme if at any time it deems this to be appropriate (subject to not being
in a close period) and would make an announcement in advance of so doing.

 

The Buyback Agreement provides that purchases of shares during the Buyback
Period shall be subject to the following parameters:

 

i.    the maximum price paid per share shall be no more than the higher of:
(a) 105% of the average middle market closing prices of the shares for the
five dealing days preceding the date of such purchase; and (b) the higher of
the price of the last independent trade and the highest current independent
bid for the shares at the time that the purchase is carried out; and

ii.    the maximum number of shares acquired shall not, in aggregate,
exceed 15,958,729 shares under the general authority granted by the Company's
shareholders at the annual general meeting on 24 September 2025 ("General
Authority").

 

Shares acquired as a result of the Share Buyback will be cancelled.

 

The Company confirms that it currently has no unpublished inside information.

 

Details of all purchases made pursuant to the Share Buyback will be announced
via RNS and published on the Company's website.

 

As at 9 February 2026, the Company's total issued share capital consisted of
106,462,502 Ordinary Shares with a further 700,000 shares held in treasury.
Therefore, the total number of voting rights in the Company was 106,462,502.

 

 

Enquiries:

 

 Baker Steel Resources Trust Limited        +44 20 7389 8237
 Francis Johnstone

Trevor Steel

 Shore Capital                              +44 020 7408 4050
 Adam Gill (Sales)

 Henry Willcocks (Corporate Broking)

 Gillian Martin, Daphne Zhang (Corporate)

 

This announcement contains inside information for the purposes of Article 7 of
MAR. Upon publication of this announcement, the inside information is now
considered to be in the public domain for the purposes of MAR. The person
responsible for arranging the release of this announcement on behalf of the
Company is Lucy McDowall of Aztec Financial Services (Guernsey) Limited, the
Company Secretary.

 

 

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