REG - Ibstock PLC - Share Buyback Programme Update

IbstockAnnouncement

30/08/2022 12:00

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RNS Number : 6027X  Ibstock PLC  30 August 2022

30 August 2022

 

Ibstock plc

 Share Buyback Programme Update

 

Ibstock plc (the "Company") announces that, pursuant to the share buyback
programme commenced on 10 May 2022 in respect of its ordinary shares of 1p
each (the "Ordinary Shares") up to a maximum pecuniary amount of £30 million
(the "Share Buyback Programme"), the Company will commence the second tranche
of purchases under the Share Buyback Programme on 30 August 2022. This will
follow completion of the first tranche of purchases by UBS AG London Branch on
26 August 2022.

In respect of the second tranche of purchases, the Company announces that it
has entered into an irrevocable non-discretionary instruction with Peel Hunt
LLP ("Peel Hunt") in relation to the purchase by Peel Hunt, acting as
principal during the period commencing on 30 August 2022 and ending no later
than 5 May 2023, of Ordinary Shares for an aggregate consideration (including
expenses) of no greater than £15 million and the simultaneous on-sale of such
Ordinary Shares by Peel Hunt to Ibstock, where they will be held in treasury.
Peel Hunt will make its trading decisions concerning the timing of the
purchases of Ordinary Shares independently of, and uninfluenced by, the
Company.

The Share Buyback Programme will continue to be conducted within certain
pre-set parameters, and in accordance with the general authority to repurchase
shares granted by the Group's shareholders at the 2022 Annual General Meeting,
Chapter 12 of the UK Listing Rules and the provisions of the Market Abuse
Regulation 596/2014/EU as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019 ("UK MAR") and the Commission Delegated Regulation
2016/1052/EU as amended by Technical Standards (Market Abuse Regulation) (EU
Exit) Instrument 2019 which both form part of the law of the United Kingdom by
virtue of the European Union (Withdrawal) Act 2018.

Ibstock will continue to 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.

 

 Ibstock plc                           01530 261 999
 Nick Giles (Group Company Secretary)

 Citigate Dewe Rogerson                020 7638 9571
 Kevin Smith
 Holly Gillis

 

About Ibstock Plc

Ibstock plc is a leading UK manufacturer of clay bricks and a diversified
range of clay and concrete products. Its principal products are clay bricks,
brick components, concrete roof tiles, concrete alternatives for stone
masonry, concrete fencing and pre ‐ stressed concrete products.

The Group's two divisions are:

Ibstock Clay: The leading manufacturer by volume of clay bricks sold in the
United Kingdom. With 16 manufacturing sites Ibstock Brick has the largest
brick production capacity in the United Kingdom. It operates a network of 18
active quarries located close to its manufacturing plants. Ibstock Kevington
provides masonry and pre-fabricated component building solutions, operating
from 6 sites across the United Kingdom.

Ibstock Concrete: A leading manufacturer of concrete roofing, walling,
flooring and fencing products, along with lintels and general concrete
building products, with 14 manufacturing plants in the United Kingdom.

 

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