REG - Elementis PLC - Commencement of Share Buyback

ElementisAnnouncement

28/05/2025 07:00

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RNS Number : 2837K  Elementis PLC  28 May 2025

28 May 2025

 

Elementis plc

Commencement of Share Buyback

Further to the announcement of 27 May 2025, Elementis plc ("Elementis" or the
"Company"), announces that from today it will commence a programme to purchase
up to approximately £40 million ($50 million equivalent) of the Company's
ordinary shares of 5 pence each (the "Ordinary Shares") (the "Programme") by
no later than 28 April 2026.

The purpose of the Programme is to reduce the Company's share capital and
accordingly the Company intends to cancel the majority of shares repurchased,
with a small proportion retained in treasury to meet obligations under the
Company's employee share scheme. Any purchases will be conducted in compliance
with the relevant conditions for trading, restrictions regarding time and
volume, disclosure and reporting obligations, and price conditions. The
Company confirms that it currently has no unpublished Inside Information.

The Programme will be conducted by the Company in accordance with and under
the terms of the general authority granted by the Company's shareholders at
the Company's Annual General Meeting on 29(th) April 2025 which authority will
expire at the end of the next Annual General Meeting of the Company in 2026
or, if earlier, 1 July 2026 ("2025 Authority"). The Company has appointed
its broker Numis Securities Limited ("Deutsche Numis") to manage the Programme
and has issued an irrevocable instruction to Deutsche Numis to continue to
manage the Programme, within pre-set parameters, during any closed period.
This appointment will continue until 28 April 2026 (unless terminated earlier
in accordance with its terms), subject to automatic extension in certain
circumstances. The Programme will be carried out on the London Stock Exchange
and other trading venues(1) and executed within the parameters of the Market
Abuse Regulation 596/2014/EU and the Commission Delegated Regulation
2016/1052/EU (as each forms part of domestic law under the European Union
(Withdrawal) Act 2018, including where relevant pursuant to the Market Abuse
(Amendment) (EU Exit) Regulations 2019) and Chapter 9 of the UK Listing Rules
of the Financial Conduct Authority.

The aggregate maximum consideration payable by the Company in respect of the
purchase of shares under the Programme up to 28 April 2026 is up to
approximately £40 million ($50 million equivalent). The maximum number of
shares that may be purchased under the Programme is 59,096,558 (being the
number of shares able to be purchased under the 2025 Authority).

(1) Turquoise, Chi-X Europe and BATS Trading Europe.

 

Enquiries

Elementis plc

Zeeshan Maqbool, Head of Investor
Relations                            Tel: +44 7553
340 380

 

 

Teneo

Martin Robinson / Giles
Kernick
       Tel: +44 (0) 20 7353 4200

 
 
                           Email: elementis@teneo.com

 

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