REG-FirstGroup Plc: Completion of Buyback Programme

FirstgroupAnnouncement

05/08/2024 13:15

5 August 2024

 

FirstGroup plc

 

Completion of Buyback Programme

On 8 June 2023, FirstGroup announced an on-market share buyback programme to
purchase up to £115m of ordinary shares (the “£115m Programme”).  The
£115m Programme commenced on 3 August 2023, immediately following the
completion of a previous buyback programme of £75m.

The Group confirms that, having repurchased 71,200,278 shares for a total
consideration of £114,999,815 the £115m Programme is now complete.

Combined, the buyback programmes ran from 20 December 2022 until 2 August
2024, during which time the Group acquired 135,069,064 shares at an average
price of about 140.67 pence per share.

The Group’s strong balance sheet and cash generative businesses provide
considerable capacity to continue to invest in decarbonisation, grow and
diversify our portfolio, maintain the Group’s progressive dividend policy
and for potential further capital returns to shareholders, which continue to
be kept under review by the Board.

 

 Contacts at FirstGroup:                                                          Contacts at Brunswick PR: Andrew Porter / Simone Selzer Tel: +44 (0) 20 7404 5959  
  David Blizzard, Company Secretary Marianna Bowes, Head of Investor Relations                                                                                       
  Tel: +44 (0) 20 7725 3354                                                                                                                                          
 Contacts at Panmure Liberum:                                                     Contacts at RBC Europe Limited:                                                    
  Nicholas How / John Fishley                                                      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 document
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 document 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 document.

 

Notes

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93.  Classification as per
DTR 6 Annex 1R: 3.1.

 

About FirstGroup

FirstGroup plc (LSE: FGP.L) is a leading private sector provider of public
transport services.  With £4.7 billion in revenue and around 30,000
employees, we transported almost 2m passengers a day in FY 2024.  We create
solutions that reduce complexity, making travel smoother and life easier.
 Our businesses are at the heart of our communities and the essential
services we provide are critical to delivering wider economic, social and
environmental goals. Each of our divisions is a leader in its field: First Bus
is one of the largest regional bus operators in the UK, serving more than 20%
of the population in the UK with a fleet of around c.4,800 buses, and carrying
more than a million passengers a day.  First Rail is one of the UK’s
largest rail operators, with many years of experience running long-distance,
commuter, regional and sleeper rail services.  We operate a fleet of c.3,700
locomotives and rail carriages through three DfT contracted train operating
companies: WCP (incorporating Avanti West Coast and West Coast Partnership
Development), GWR and SWR) and two open access routes (Hull Trains and Lumo).
 We are formally committed to operating a zero-emission First Bus fleet by
2035, and First Rail will help support the UK Government’s goal to remove
all diesel-only trains from service by 2040.  During FY 2024 FirstGroup was
named as one of the world’s cleanest 200 public companies for the fifth
consecutive year and achieved Industry Top-Rated status for the first time
with Sustainalytics.  We provide easy and convenient mobility, improving
quality of life by connecting people and communities. Visit our website at
www.firstgroupplc.com and follow us @firstgroupplc on X.

 

 



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