REG - Fevertree Drinks PLC - Update on share buyback extension

Fevertree DrinksAnnouncement

14/04/2025 07:00

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RNS Number : 7948E  Fevertree Drinks PLC  14 April 2025

14 April 2025

Fevertree Drinks plc

("Fever-Tree" or the "Company")

 

Update on share buyback extension

In its FY24 Preliminary Results to 31 December 2024 published on 25 March
2025, Fever-Tree announced a £29 million extension (the "Extension") of the
Company's share buyback programme announced on 17 February 2025 (the
"Programme"), taking the total programme maximum consideration to £100
million. The Company today announces the commencement the Extension which is
to be conducted until 31 December 2025 to buyback ordinary shares of a nominal
value of 0.25 pence each (the "Shares").

Fever-Tree has amended its agreement with Investec Bank plc ("Investec")
pursuant to which Investec will continue to carry out on-market purchases of
Shares on its behalf and to make trading decisions independently of the
Company. Save as set out herein, the Programme will otherwise continue to be
subject to the same parameters set out in the Company's announcement of 17
February 2025.

Investec will purchase the Shares as principal and simultaneously be deemed to
execute sales to the Company of any Shares so purchased in accordance with the
terms of their engagement.

Any purchase of Shares under the Programme moving forwards will be executed in
accordance with certain pre-set parameters and in accordance with the
Company's existing general authority to repurchase Shares granted by its
shareholders at the annual general meeting held on 6 June 2024 and any
subsequent general authorities granted by the Company's shareholders,
the Market Abuse Regulation (596/2014) as it forms part of domestic law by
virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended)
and UKLR 9.6.2 using the average daily volume of Ordinary Shares traded
in March 2025, being the month preceding the month of this announcement. The
Company may repurchase up to 25% of this average daily volume per day during
the programme.

 

For further information:

 

Fever-Tree

Investor queries

Ann Morris-Gibbons, Director of Investor Relations I ann.hyams@fever-tree.com
(mailto:ann.hyams@fever-tree.com)  I +44 (0)7435 828 138

Media queries

Oliver Winters, Director of Communications I oliver.winters@fever-tree.com
(mailto:oliver.winters@fever-tree.com)  I +44 (0)770 332 9024

 

Nominated Advisor and Broker - Investec Bank plc

David Flin I +44 (0)20 7597 5970

Financial Adviser & Corporate Broker - Morgan Stanley & Co.
International plc

Henry Stewart I Andrew Foster I Jessica Pauley I +44 (0)20 7425 8000

Corporate Broker - Jefferies International Limited

Ed Matthews I Richard Taylor I +44 (0)20 7029 8000

Financial PR advisers - FGS Global

Faeth Birch +44 (0)7768 943 171; Anjali Unnikrishnan +44 (0) 7826 534 233

About Fever-Tree:

Fever-Tree is the world's leading supplier of premium carbonated mixers for
alcoholic spirits by retail sales value, with distribution to over 90
countries worldwide. Based in the UK, the brand was launched in 2005 to
provide high quality mixers which could cater to the growing demand for
premium spirits, in particular gin, but also increasingly for vodka, rum and
whisky. The Company sells a range of carbonated mixers to hotels, restaurants,
bars and cafes ("On Trade") as well as selected retail outlets ("Off Trade").

 

 

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