REG - C&C Group Plc - C&C Group launches share buy-back of up to EUR 15m

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RNS Number : 8882G  C&C Group Plc  01 May 2025

 

 

Launch of €15 Million Share Buyback Programme

 

Dublin, London 1 May 2025: C&C Group plc ('C&C' or the 'Group'), a
premium drinks company which manufactures, markets and distributes branded
beer, cider, wine, spirits and soft drinks across the UK and Ireland,
announces that it will commence a Share Buyback Programme today, 1 May 2025,
to repurchase ordinary shares of the Group (the "Shares") up to a maximum
aggregate consideration of €15 million (the "Programme").

 

The Programme forms part of the Group's plan to return up to €150 million to
shareholders over the three fiscal years ending in February 2025, 2026 and
2027 through a combination of dividends and share buybacks. In accordance with
this objective, the Group has completed two buybacks of its ordinary shares to
date, amounting to €30 million in aggregate. The Programme is underpinned by
the Board's continued confidence in the medium-term outlook for the business
and its strong cash generation capabilities. The Board also believes that the
Programme represents the most effective use of capital in the current
environment.

 

Details of the Programme

The Group has entered into an agreement with J&E Davy ("Davy") to act as
principal to conduct the Programme and to repurchase Shares on the Group's
behalf for a maximum aggregate consideration of up to €15 million and to
make trading decisions under the Programme in accordance with certain pre-set
parameters. Under the terms of the agreement, Davy will make purchases of the
Shares under the Programme independently of, and uninfluenced by, the Group.

 

The Programme will commence on 1 May 2025, and end no later than 1 September
2025, subject to market conditions. The purpose of the Programme is to reduce
the share capital of the Company in line with this announcement. Under the
terms of the Programme, the Shares will be repurchased on the London Stock
Exchange and will be cancelled. The Programme will be conducted in accordance
with:

 

(i) the Group's general authority to repurchase shares (which authorises the
repurchase of up to 38,645,511 Shares, being approximately 10% of the issued
share capital of the Group), as approved by shareholders at the Group's AGM
held on 15 August 2024 (and as such authority may be renewed and/or amended)
(the "Authority"); and

 

(ii) the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated
Regulation (EU) No 2016/1052 (including as each of them forms part of retained
EU law in the United Kingdom ("UK") from time to time, including, where
relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and Market
Abuse (Amendment) (EU Exit) Regulations 2019) as well as the applicable laws
and regulations of the UK Financial Conduct Authority.

 

The execution of the Programme may be augmented by the purchase of Shares by
way of block trades effected by Davy as agent of the Group. The maximum number
of Shares which can be repurchased by the Group under the Programme will be
reduced by the corresponding number of Shares repurchased pursuant to any such
block trades. Any Shares repurchased through block trades will also count
towards the maximum consideration payable by the Group.

 

Details of any Shares repurchased under the Share Buyback Programme will be
notified to a Regulatory Information Service by the Group following
repurchase. Purchases may continue under the Programme during any closed
period to which the Company is subject. The Company confirms that it currently
has no unpublished inside information.

 

There is no guarantee that the Programme will be implemented in full or that
any Shares will be bought back by the Group.

 

 

ENDS

 

 

 

 

 

 

Contacts

 

C&C Group plc

Email: investor.relations@candcgroup.ie
(mailto:investor.relations@candcgroup.ie)

 

Investors, Analysts & UK Media:

Instinctif Partners

Justine Warren / Tim Pearson / Amelia Thorn

Tel:   020 7457 2020

Email: CandCGeneral@instinctif.com (mailto:CandCGeneral@instinctif.com)

 

Irish Media

FTI Consulting

Jonathan Neilan / Paddy Berkery / Niamh O'Brien

Tel:   +353 86 231 4135 / +353 86 602 5988 / +353 87 707 8379

Email: CandCGroup@fticonsulting.com (mailto:C&CGroup@fticonsulting.com)

 

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