REG - Computacenter - Share Buyback Programme – 26 July 2024

ComputacenterAnnouncement

26/07/2024 07:15

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RNS Number : 9275X  Computacenter PLC  26 July 2024

Computacenter plc

Incorporated in England

Registration number: 03110569

LEI: 549300XSXUZ1I19DB105

ISIN: GB00BV9FP302

Computacenter plc

 

Share Buyback Programme - 26 July 2024

 

Computacenter ("the Company") announces that, beginning on 26 July 2024, it is
commencing a share buyback programme ("the Programme") to repurchase up to
11,414,110 of its ordinary shares (the Shares).

 

The maximum amount allocated to the Programme is £200 million, and the
Company will make appropriate disclosures during the buyback period (which
shall end on or before 30 June 2025) of the number of Shares it has
repurchased. The sole purpose of the Programme is to reduce the Company's
share capital.

 

This commencement of the Programme is in line with our capital allocation
policy. Whilst the Company has received no indications at this stage, in line
with the approach taken on previous returns of value, Directors may undertake
disposals of shares during the course of the Programme.

 

The programme will be carried out through a non-discretionary agreement with
J.P. Morgan Securities plc ("J.P. Morgan"), pursuant to which J.P. Morgan
shall purchase ordinary shares as riskless principal (and not as agent of the
Company) for the subsequent sale on to, and purchase by, the Company. J.P.
Morgan will make its trading decisions in relation to the ordinary shares
independently of, and uninfluenced by, the Company.

 

This arrangement is in accordance with Chapter 12 of the FCA Listing Rules and
the Company's general authority to repurchase shares.

 

The Company currently holds 8,546,861 Shares as treasury shares (against the
Investment Association's Share Capital Management Guidelines preference that a
listed company does not hold more than 10 per cent. of its issued share
capital in treasury). From the Shares to be purchased under the Programme, it
is expected that no more than 2,867,249 Shares will be held in treasury, with
the remaining Shares purchased under the Programme expected to be cancelled.
The Ordinary Shares that are held in treasury will not rank for any future
dividends and no voting rights will be exercised in respect of such Ordinary
Shares.

Enquiries:

   Computacenter plc
   Mike Norris, CEO                       +44 (0) 1707 631 601
   Chris Jehle, CFO                       +44 (0) 1707 631 346
   Christian Cowley, Investor Relations   +44 (0) 1707 631 132

   Teneo
   James Macey White / Matt Low           +44 (0) 207 353 4200

About Computacenter:

Computacenter is a leading independent technology and services provider,
trusted by large corporate and public sector organisations. We are a
responsible business that believes in winning together for our people and our
planet. We help our customers to Source, Transform and Manage their technology
infrastructure to deliver digital transformation, enabling people and their
business. Computacenter is a public company quoted on the London FTSE 250
(CCC.L) and employs over 20,000 people worldwide.

More information can be found at www.computacenter.com
(http://www.computacenter.com)

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