REG - Bytes Technology Grp - Share Repurchase Programme

Bytes TechnologyAnnouncement

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RNS Number : 4098V  Bytes Technology Group PLC  15 August 2025

15 August 2025

 

Bytes Technology Group plc

("BTG", or the "Company")

 

Share Repurchase Programme

 

Bytes Technology Group plc, one of the UK and Ireland's leading software,
security, cloud and AI services specialists, announces that effective today it
is commencing a share repurchase programme of its ordinary shares of £0.01
each ("Ordinary Shares") up to a maximum aggregate consideration of £25
million (the "Repurchase Programme").

 

The Company's capital allocation policy prioritises enhancing business growth,
both organically and through select inorganic opportunities as they arise,
whilst maintaining an appropriate level of liquidity headroom and returning
excess capital to shareholders (through normal and special dividends, and
share buybacks), where appropriate. The Board continuously reviews capital
allocation opportunities. After considering the Company's strong balance sheet
position and prevailing share price, the Board believes that it would be
beneficial to return capital to shareholders through a share repurchase.

 

The purpose of the Repurchase Programme is to reduce BTG's share capital, and
the Company intends to cancel all Ordinary Shares purchased under the
Repurchase Programme.

 

BTG has entered into an agreement with Numis Securities Limited ("Deutsche
Numis") and Peel Hunt LLP ("Peel Hunt"), respectively (the "Repurchase
Agreements"), to purchase BTG's Ordinary Shares under the Repurchase Programme
for an aggregate value (excluding expenses) in two equal tranches of up to
£12.5 million each. Deutsche Numis and Peel Hunt will manage the purchases on
a discretionary basis, purchasing shares within certain pre-set parameters and
making their trading decisions independently of BTG. The purchase of Ordinary
Shares will be carried out on the London Stock Exchange and is expected to be
completed during the second half of 2025.

 

Any purchase of Ordinary Shares undertaken in relation to this announcement
will be executed in accordance with (i) the terms and parameters of the
Repurchase Agreements; (ii) the relevant regulations, including the EU Market
Abuse Regulation (596/2014) and the Commission Delegated Regulation
(2016/1052), in each case as such legislation forms part of retained EU law
(as defined in the EU (Withdrawal) Act 2018), and Chapter 9 of the Financial
Conduct Authority's UK Listing Rules; and (iii) the Company's general
authority to make market purchases of Ordinary Shares as approved by
shareholders at the Company's AGM held on 2 July 2025.

 

BTG will announce any market repurchase of Ordinary Shares no later than 07:30
(BST) on the business day following the calendar day on which the repurchase
occurs.

 

-Ends-

Enquiries:

 

Bytes Technology Group plc

Sam Mudd, Chief Executive Officer

Andrew Holden, Chief Financial Officer

James Zaremba, Investor Relations

 

Tel: +44 (0)1372 418 500

Email: IR@bytesplc.com (mailto:IR@bytesplc.com)

 

Sodali & Co
Elly Williamson

Tilly Abraham

 

Tel: +44 (0)2072 501446

Email: btg@info.sodali.com (mailto:btg@info.sodali.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 of 16 April 2014 (MAR) as it forms
part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

 

About Bytes Technology Group plc:

BTG is one of the UK and Ireland's leading providers of IT software
offerings and solutions, with a focus on AI, cloud and security products. The
Company enables effective and cost-efficient technology sourcing, adoption and
management across software services, including in the areas of security, cloud
and AI solutions. It aims to deliver the latest technology to a diverse and
embedded non-consumer customer base and has a long track record of delivering
strong financial performance.

 

The Company has a primary listing on the Main Market of the London Stock
Exchange and a secondary listing on the Johannesburg Stock Exchange.

 

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