REG - Centrica PLC - Next tranche of Share Buyback programme commences

CentricaAnnouncement

22/09/2025 07:00

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RNS Number : 1855A  Centrica PLC  22 September 2025

 

Centrica plc

 

 

Commencement of next tranche of share buyback programme

 

In its 2024 Preliminary Results on 20 February 2025, Centrica plc (the
"Company") announced a further £500 million extension of its share buyback
programme (the "2025 Extension"), taking the total programme to £2.0 billion.

 

Following the successful completion of the first £250 million tranche of the
2025 Extension on 19 September 2025, the Company today announces the entry
into an irrevocable arrangement with J.P. Morgan Securities plc ("JPM")
(acting as riskless principal) to conduct the repurchases in respect of the
second and final £250 million tranche of the 2025 Extension (the "Second
Tranche") on its behalf and to make trading decisions in respect of the Second
Tranche independently of the Company.

 

Repurchases in respect of the Second Tranche will commence on 22 September
2025 and will end no later than 16 January 2026, to buy back ordinary shares
of 6 (14)/(81) pence each (the "Shares") up to an aggregate maximum
consideration of £250 million (exclusive of associated fees, expenses and
stamp duty), representing an amount equal to the aggregate value of
approximately 3% of the Company's issued share capital at the share price as
at close of business on 19 September 2025.

 

JPM may effect purchases of Shares under the Second Tranche on the London
Stock Exchange and/or other trading venues(1) for subsequent purchase by the
Company. Purchases by the Company will be treated as being made on the London
Stock Exchange. The Company intends that any shares purchased will be
cancelled, held in treasury, or used for the purposes of employee share
schemes.

 

The purpose of the 2025 Extension is to reduce the capital of the Company.

 

Any share purchases will be carried out in accordance with certain pre-set
parameters. The maximum number of ordinary shares which may be purchased by
the Company under the Second Tranche is 503,096,162 shares, being the maximum
number of Shares pursuant to the authority granted by shareholders at the
Company's Annual General Meeting held on 8 May 2025.

 

The Second Tranche will be conducted within the parameters prescribed by the
Market Abuse Regulation 596/2014/EU (as in force in the UK and as amended by
the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission
Delegated Regulation 2016/1052/EU (as in force in the UK and as amended by the
FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019)
and in accordance with Chapter 9 of the UK Listing Rules. No repurchases will
be made in respect of the Company's American Depositary Receipts.

 

The Company will make further announcements in due course following any
repurchase of Shares. There is no guarantee that the Second Tranche will be
implemented in full or that any Shares will be bought back by the Company.

 

Notes:

1. CBOE Europe Limited (CBOE UK), Turquoise or Aquis.

 

 

Enquiries:

Investors and Analysts

Email: ir@centrica.com

 

Media

Telephone: 01784 843000

Email: media@centrica.com

 

END

 

Centrica plc is listed on the London Stock Exchange (CNA)

Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654

Legal Entity Identifier number: E26EDV109X6EEPBKVH76

ISIN number: GB00B033F229

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