REG - Balfour Beatty PLC - Share Buyback Programme

Balfour BeattyAnnouncement

02/01/2024 07:00

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RNS Number : 2696Y  Balfour Beatty PLC  02 January 2024

INITIAL TRANCHE OF 2024 SHARE BUYBACK

 

2 January 2024

 

Balfour Beatty, the international infrastructure group, today announces that,
further to its trading update announcement on 7 December 2023, it
has appointed its corporate brokers to manage an initial tranche of its 2024
share buyback programme and to repurchase Ordinary Shares on its behalf up to
a maximum aggregate consideration of £50 million, intended to be completed
by 30 June 2024.

 

The total anticipated 2024 share buyback will be confirmed at the Group's full
year results in March.

 

In advance of moving into any closed periods, including ahead of its 2023 full
year results, Balfour Beatty will enter into irrevocable commitments with its
corporate brokers to execute the share buyback through non-discretionary
programmes repurchasing shares within certain pre-set parameters, with the
corporate brokers making their trading decisions independently of, and
uninfluenced by, Balfour Beatty.

 

Share purchases will take place in open market transactions and may be made
from time to time depending on market conditions, share price and trading
volume. The purpose of the share buyback is to reduce the share capital of
Balfour Beatty, with the purchased shares to be held in treasury.

 

The maximum number of shares to be purchased is 63,162,140 Ordinary Shares
(which is the balance of the shareholder authority given at the 2023 AGM). The
Group confirms that it currently has no other unpublished price sensitive
information.

 

The Group will make further regulatory announcements to shareholders in
respect of purchases of Ordinary Shares by the Group after they occur.

 

Investor and analyst enquiries:

Jim Ryan

Tel. +44 (0) 7858 368527

jim.ryan@balfourbeatty.com (mailto:jim.ryan@balfourbeatty.com)

Media enquiries:

Antonia Walton

Tel. +44 (0) 7966 929 633
antonia.walton@balfourbeatty.com (mailto:antonia.walton@balfourbeatty.com)

 

Notes to editors:

·      Balfour Beatty is a leading international infrastructure group
with 25,000 employees driving the delivery of powerful new solutions, shaping
thinking, creating skylines and inspiring a new generation of talent to be the
change-makers of tomorrow.

·      We finance, develop, build, maintain and operate the increasingly
complex and critical infrastructure that supports national economies and
deliver projects at the heart of local communities.

·      Over the last 114 years we have created iconic buildings and
infrastructure all over the world. Currently, we are working to deliver
Hinkley Point C, the first UK nuclear power station in a generation;
constructing the world-class arts and cultural facility, the Lyric Theatre, in
Hong Kong; and designing, building, financing, operating and maintaining the
Automated People Mover superstructure at the fifth busiest airport in the
world, Los Angeles International Airport.

Legal Entity Identifier: CT4UIJ3TUKGYYHMENQ17

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