REG - Future PLC - Result of General Meeting

FutureAnnouncement

03/08/2023 10:30

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RNS Number : 2263I  Future PLC  03 August 2023

For immediate release

 

3 August 2023

 

Future plc

 

("Future" or the "Company")

 

Result of General Meeting

 

The Board is pleased to note that the special resolution to give authority for
an on-market share buyback programme (the Share Buyback Authority) was passed
with the requisite majority of votes.

 

The results of votes cast by proxy for the resolution were as follows:

 Resolution  Votes for    %       Votes against  %      Total votes  % of ISC* voted  Votes withheld
 1           102,833,633  99.99%  5,474          0.01%  102,839,107  85.09%           261,102

* Issued share capital

 

Notes:

1.     As at the date of the General Meeting, the Company had 120,860,223
ordinary shares in issue. The Company did not hold any shares in treasury and
therefore the number of total voting rights as at the date of the General
Meeting was 120,860,223 .

2.     The full text of the resolution is set out in the notice of general
meeting, which can be found on page 4 of the Circular.

3.     Percentages are expressed as a proportion of the total votes cast.

4.     A vote withheld is not a vote in law and is not included in the
calculation of the votes "For" or "Against" the resolution.

5.     Any proxy appointments which gave discretion to the Chair have been
included in the "For" total.

 

Commencement of Share Buyback Programme

 

Future plc (LSE: FUTR) the global platform for intent-led specialist media, is

pleased to announce that, further to its announcements on 10 July and 19 July
2023, in respect of a proposal to return up to £45 million of cash to its
shareholders, through the means of an on-market share buyback programme (the
Share Buyback Programme), Future intends to commence the Share Buyback
Programme from tomorrow, 4 August 2023 and, if necessary, to continue it until
30 May 2024.

 

The Programme will operate under the Share Buyback Authority granted at the
general meeting held today, 3 August 2023, (the General Meeting) and within
the regulatory limit on the quantity of shares the Company may purchase on any
single day.

 

In order to implement the Share Buyback Programme, the Company has entered
into an irrevocable, non-discretionary agreement with Numis Securities Limited

(Numis) to conduct the Share Buyback Programme on its behalf and carry out

on-market purchases of ordinary shares of 15p each in the capital of the
Company (Ordinary Shares), acting as riskless principal, and to on-sell such
Ordinary Shares to the Company.  The Company intends to cancel the Ordinary
Shares it purchases through the Share Buyback Programme.  Numis will make
trading decisions in relation to the Share Buyback Programme independently of
the Company.  Any purchases of Ordinary Shares under the Share Buyback
Programme will be carried out on the London Stock Exchange and/or other
recognised investment exchanges in accordance with certain pre-set parameters
set out in the agreement with Numis and in accordance with (and subject to the
limits prescribed by) the Share Buyback Authority, Chapter 12 of the Financial
Conduct Authority's Listing Rules, Article 5(1) of the Market Abuse Regulation
(EU) No 596/2014 (as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018, as amended (the Withdrawal Act)), the Commission
Delegated Regulation (EU) No 2016/1052 (as it forms part of domestic law by
virtue of the Withdrawal Act) and other applicable laws. No repurchases of
Ordinary Shares under the Share Buyback Programme will be made in or into the
United States.

 

Future will announce any market repurchase of Ordinary Shares no later than

7.30 a.m. on the business day following the calendar day on which the
repurchase

occurred.

 

Enquiries

 

Future plc

Jon Steinberg, Chief Executive Officer
                    +44 (0)122 544 2244

Penny Ladkin-Brand, Chief Financial Officer

Marion Le Bot, Head of Investor Relations
+44(0)777 564 1509

 

Media

Headland
                                 +44 (0) 203 805 4822

Stephen Malthouse, Rob Walker, Charlie Twigg

future@headlandconsultancy.com

 

Legal Entity Identifier (LEI): 213800K2581YRLEXV353

 

 

About Future

Future is a digital-first global platform for intent-led specialist media.
Underpinned by leading technology and enabled by data, we operate c.250 brands
in diversified content verticals, across our B2C and B2B divisions with
multiple market leading positions and three core monetisation frameworks:
advertising, eCommerce affiliate and direct consumer monetisation. We organise
our brands by specialist interest and have four main content verticals with 16
subcategories ranging from Consumer Technology and Home to Wealth and Women's
Lifestyle. Our content is published and distributed through a range of formats
including websites, email newsletters, videos, magazines and live events. The
successful execution of our strategy is focused on three pillars: organic
growth, the platform effect and value-creating M&A.

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