REG - Johnson Service Grp. - Commencement of Share Buyback Programme

Johnson ServiceAnnouncement

05/03/2025 07:00

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RNS Number : 3625Z  Johnson Service Group PLC  05 March 2025

5 March 2025

Johnson Service Group PLC

(the 'Company' or the 'Group')

Commencement of Share Buyback Programme

On 4 March 2025, in its Preliminary Results for the Year Ended 31 December
2024 (the 'Preliminary Results'), the Company announced that a further share
buyback is planned and that it is the Company's intention, based on currently
available resources, to return up to £30.0 million to Shareholders over the
next 12 months, with an initial share buyback tranche of up to £15.0 million
to shortly commence (the 'Buyback Programme').

As set out in the Preliminary Results, the Company employs a disciplined
approach to investment, returns and capital efficiency to deliver sustainable
compounding growth whilst also maintaining a strong balance sheet.  Having
taken into consideration recent investments, acquisitions and the payment of a
final dividend for the financial year ended 31 December 2024, the Group has
significant headroom under its committed facilities and leverage of less than
one times. Accordingly, the Board considers that the Buyback Programme is
prudent, reflects the cash generative ability of the Group and maintains a
strong balance sheet consistent with its capital allocation policy.

The Company announces that, pursuant to the Buyback Programme it has entered
into a non-discretionary instruction with Investec Bank plc to purchase up to
£15.0 million (excluding expenses) of the Company's Ordinary Shares of 10
pence (the 'Shares') each and to make trading decisions under the Buyback
Programme independently of the Company in accordance with certain pre-set
parameters. The Buyback Programme will commence today and end no later than 18
July 2025.

In order to reflect the cash generation profile of the Group, this first phase
of the programme will be by way of an initial £15.0 million (excluding
expenses) tranche with a second £15.0 million (excluding expenses) tranche
anticipated to follow later in the year. The Board will further actively
review its options once this programme is completed and in light of the
Group's capital allocation needs.

The purpose of the Buyback Programme is to reduce the share capital of the
Company. As such, the Company will cancel any Shares purchased.

Any acquisitions of Shares will be carried out within certain pre-set
parameters and in accordance with the Company's existing general authority to
repurchase Shares. The Buyback Programme will be conducted within the
parameters prescribed by the Market Abuse Regulation (596/2014) (as in force
in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations
2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the
UK and as amended by the FCA's Technical Standards (Market Abuse Regulation)
(EU Exit) Instrument 2019).  Any repurchase of Shares will be announced no
later than 7:30 am on the business day following the calendar day on which the
repurchase occurred.

ENQUIRIES

 Johnson Service Group PLC

 Peter Egan, CEO
 Yvonne Monaghan, CFO
 Tel: 01928 704 600

 Investec Investment Banking (NOMAD)  Camarco (Financial PR)
 David Flin                           Ginny Pulbrook
 Virginia Bull                        Letaba Rimell
 William Brinkley
 Tel: 020 7597 5970                   Tel: 020 3757 4992/4981

 

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