REG - Barratt Redrow PLC - Non-Discretionary Share Buyback Programme

Barratt RedrowAnnouncement

12/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250212:nRSL7604Wa&default-theme=true

RNS Number : 7604W  Barratt Redrow PLC  12 February 2025

 

 

BARRATT REDROW PLC

Announcement of Non-Discretionary Share Buyback Programme

 

 

12 February 2025

 

 

In its Interim Results announcement earlier today, Barratt Redrow plc (the
"Company") announced, in compliance with the EU and UK Market Abuse
Regulations, that it will implement an irrevocable, non-discretionary
programme to repurchase its ordinary shares of 10 pence each (the "Shares") up
to the value of £50 million in total (excluding expenses) commencing 12
February 2025 and ending no later than 30 June 2025 inclusive (the
"Programme").

 

The Company has entered into an agreement with UBS AG London Branch ("UBS")
under which it has issued irrevocable instructions to UBS to manage the
Programme. UBS will carry out the Company's instructions through the
acquisition of the Shares in the Company for subsequent repurchase by the
Company. UBS will make its trading decisions under the Programme independently
of, and uninfluenced by, the Company. For the avoidance of doubt, no
repurchases will be made in respect of the Company's American Depositary
Receipts.

 

The purpose of the Programme is to reduce the capital of the Company, and it
intends that the Shares purchased will be cancelled.

 

Any share purchases will be made by the Company within certain pre-set
parameters and in accordance with the general authority of the Company to
repurchase shares granted by shareholders at the Company's Annual General
Meeting held on 23 October 2024 which, taking into account shares purchased
subsequent to this meeting, permits the Company to purchase no more than
145,090,138 ordinary shares. Any share purchases effected by the Company will
be in accordance with the EU and UK Market Abuse Regulations and UKLR 9.

 Barratt Redrow plc
 Mike Scott, Chief Financial                                                    01530 278 278
 Officer

 John Messenger, Group Investor Relations Director                              07867 201 763

 Media enquiries
 Tim Collins, Group Corporate Affairs Director                                  01530 278 278

 Brunswick
 Jonathan Glass / Rosie                                                         020 7404 5959
 Oddy

Barratt Redrow plc LEI: 2138006R85VEOF5YNK29

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAFAFFAFSEAA