REG - Convatec Group PLC - Convatec commences share buyback programme

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RNS Number : 9782V  Convatec Group PLC  20 August 2025

 

This announcement contains inside information

 

Convatec Group Plc

 

Convatec commences share buyback programme

 

London, UK, 20 August 2025: Convatec announces a non-discretionary share
buyback programme (the "Programme") to return up to $300 million of surplus
capital to shareholders. This is in accordance with Convatec's disciplined
approach to capital allocation and previously stated policy. It follows
confirmation of full year guidance with Convatec's interim results, together
with a refresh of cash flow needs for the second half of the year. The
Programme will commence immediately and run up to 31 December 2025. The
Programme may be extended by further notification.

 

Convatec has entered into an agreement with UBS AG London Branch ("UBS") to
conduct the Programme on its behalf and to make independent trading decisions
within certain pre-set parameters.

 

Any Share purchases will be made in accordance with (i) the general authority
of the Company to repurchase shares granted by shareholders at the Company's
Annual General Meeting held on 22 May 2025; (ii) the Market Abuse Regulation
596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (both as
incorporated into UK domestic law by the European Union (Withdrawal) Act
2018); and (iii) Chapter 9 of the Financial Conduct Authority's UK Listing
Rules. Up to 204,978,956 ordinary shares of 10 pence each in the Company (the
"Shares") may be acquired as part of the Programme for a maximum aggregate
consideration of $300 million. There is no guarantee that the programme will
be implemented in full. The purpose of the Programme is to reduce Convatec's
share capital. Shares acquired by UBS will be sold on to the Company and will,
to the extent required to satisfy share awards under the Company's employee
share plans, be held in treasury, and the remainder will be cancelled.

 

 

Contacts

The person responsible for making this announcement is James Kerton, Company
Secretary, Convatec Group Plc: cosec@convatec.com (mailto:cosec@convatec.com)

 

Media: MediaRelations@convatec.com (mailto:MediaRelations@convatec.com)

Investor Relations: IR@convatec.com (mailto:IR@convatec.com)

 

About Convatec

Pioneering trusted medical solutions to improve the lives we touch: Convatec
is a global medical products and technologies company, focused on solutions
for the management of chronic conditions, with leading positions in Advanced
Wound Care, Ostomy Care, Continence Care, and Infusion Care. With more than
10,000 colleagues, we provide our products and services in around 90
countries, united by a promise to be forever caring. Our solutions provide a
range of benefits, from infection prevention and protection of at-risk skin,
to improved patient outcomes and reduced care costs. Convatec's revenues in
2024 were over $2 billion. The company is a constituent of the FTSE 100 Index
(LSE:CTEC). To learn more please visit http://www.convatecgroup.com
(http://www.convatecgroup.com)

 

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