REG-FirstGroup Plc: Buyback Programme

FirstgroupAnnouncement

27/06/2023 14:00

27 June 2023

 

FirstGroup plc

 

Buyback Programme

On 8 June 2023 FirstGroup plc (‘FirstGroup’ or the ‘Group’) announced
a proposed on-market buyback programme to purchase up to £115m of ordinary
shares of 5p (‘the New Programme’) subject to approval of the normal
buyback authority at the Company’s Annual General Meeting to be held on 21
July 2023.

The Group has entered into a non-discretionary arrangement with Liberum
Capital Limited and RBC Europe Limited which will enable the purchase of
ordinary shares for the New Programme to continue through close periods.

The New Programme will commence immediately following the later to occur of
the Company’s 2023 AGM (being held on 21 July 2023) and completion of the
current £75 million buyback programme announced on 16 December 2022. It is
anticipated that the New Programme will end no later than 1 August 2024,
subject to market conditions.

The sole purpose of the New Programme is to reduce the issued share capital of
the Group and therefore the repurchased shares will initially be held in
Treasury, before being cancelled at a later date. Treasury shares are not
entitled to dividends and have no voting rights at general meetings.

Any purchase of Ordinary Shares pursuant to the New Programme will be
announced no later than 7:30 a.m. on the business day following the calendar
day on which the purchase occurs.

The New Programme will be conducted within certain pre-set parameters
including those prescribed by 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 Chapter 12 of the Listing Rules.

A further announcement will be made in relation to the commencement of the New
Programme, in due course.

 Contacts at FirstGroup:                                                                                            
  David Blizzard, Company Secretary Marianna Bowes, Head of Investor Relations                                      
  Tel: +44 (0) 20 7725 3354                                                                                         
 Contacts at Liberum Capital Limited:                                             Contacts at RBC Europe Limited:   
  Nicholas How / John Fishley / William Hall                                       James Agnew / Jack Wood          
  Tel: +44 (0) 20 3100 2000                                                        Tel: +44 (0) 20 7653 4000        

 


Forward-looking statements

Certain statements included or incorporated by reference within this
announcement may constitute 'forward-looking statements' with respect to the
business, strategy and plans of the Group and our current goals, assumptions
and expectations relating to our future financial condition, performance and
results. By their nature, forward-looking statements involve known and unknown
risks, assumptions, uncertainties and other factors that cause actual results,
performance or achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. No statement in this announcement should be
construed as a profit forecast for any period. Shareholders are cautioned not
to place undue reliance on the forward-looking statements. Except as required
by the UK Listing Rules and applicable law, the Group does not undertake any
obligation to update or change any forward-looking statements to reflect
events occurring after the date of this announcement.

Notes
                                                                                                                                                   

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR
6 Annex 1R: 2.2 and 2.4

 

 



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