REG - Greencoat UK Wind - Launch of further £100m Share Buyback Programme

Greencoat UK WindAnnouncement

27/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250227:nRSa6058Ya&default-theme=true

RNS Number : 6058Y  Greencoat UK Wind PLC  27 February 2025

LEI: 213800ZPBBK8H51RX165

27 February 2025

 

Greencoat UK Wind PLC

Launch of further £100 million Share Buyback Programme

 

Greencoat UK Wind PLC (the "Company" or "UKW"), the leading listed renewable
infrastructure fund invested in UK wind farms, today announces a further £100
million share buyback programme (the "Programme") having completed the
Company's previous £100 million share buyback programme on 13 February 2025.
This takes the total amount committed by the Company to share buybacks to
£200 million.

The Programme will commence shortly and, subject to market conditions, is
intended to be executed over the following 12 months.  The sole purpose of
the Programme is to reduce the issued share capital of the Company and
therefore the ordinary shares purchased by the Company will be held in
treasury or re-issued.

The Programme will be executed under the authority granted by shareholders at
the Company's annual general meeting on 24 April 2024 (the "2024 AGM"), which
authority would be expected to be renewed at the annual general meeting to be
held in 2025.  As such, the maximum number of shares that may be repurchased
by the Company under the Programme is 297,140,189, being the authority granted
by shareholders at the 2024 AGM, less the ordinary shares purchased by the
Company under the prior programme.

The Company has entered into a non-discretionary agreement with RBC Europe
Limited ("RBC") and Jefferies International ("Jefferies") pursuant to which it
has issued irrevocable instructions to RBC and Jefferies to conduct the
Programme. RBC and Jefferies will carry out the Programme through the
acquisition of ordinary shares in the Company, within certain pre-defined
parameters, for subsequent repurchase by the Company.

Any purchase of ordinary shares in the Company will be conducted within the
parameters prescribed by the Market Abuse Regulation 596/2014 and the
Commission Delegated Regulation (EU) 2016/1052 (also as in force in the UK,
from time to time, including, where relevant, pursuant to the UK's European
Union (Withdrawal) Act 2018 and the Market Abuse (Amendment) (EU Exit)
Regulations 2019) as well as applicable laws and the regulations of the UK
Financial Conduct Authority (including Chapter 9 of the UK Listing Rules).

Any purchase of ordinary shares pursuant to the Programme will be announced no
later than 07:30 am on the business day following the calendar day on which
the purchase occurs.

There is no guarantee that the Programme will be implemented in full.

For further information please contact:

Greencoat UK Wind PLC

020 7832 9400

Stephen Lilley

Matt Ridley

 

Ocorian Administration (UK) Limited - Company Secretary

028 9693 0219

Josh Finlay

 

Headland

020 3805 4822

Stephen Malthouse

Rob Walker

Charlie Twigg

ukwind@headlandconsultancy.com (mailto:ukwind@headlandconsultancy.com)

 

RBC Europe Limited

020 7653 4000

Matthew Coakes

Max Avison

Jack Wood

 

Jefferies International Limited

020 7029 8000

Stuart Klein

Gaudi Le Roux

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STRFLFEDFEIRFIE