REG - Legal & General Grp - Commencement of Share Buyback

Legal & GeneralAnnouncement

13/03/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250313:nRSM4486Aa&default-theme=true

RNS Number : 4486A  Legal & General Group Plc  13 March 2025

 Legal & General Group Plc

 13 March 2025

Commencement of Share Buyback

 

Legal & General Group Plc ("the Company") ("L&G") announces that it
will today commence a share buyback programme for up to a maximum
consideration of £500m (the "Programme"), as announced on 12 March 2025.

 

The Company has entered into a non-discretionary agreement with Barclays
Capital Securities Limited ("Barclays") to conduct the Programme on its behalf
and to make trading decisions under the Programme independently of the
Company. Shares acquired by Barclays under the agreement will be purchased by
Barclays as riskless principal for subsequent repurchase by the Company. All
shares repurchased under the Programme will be cancelled. The purpose of the
Programme is therefore to reduce the Company's share capital.

 

Any purchase of the Company's ordinary shares contemplated by this
announcement will be executed in accordance with the Company's general
authority to repurchase ordinary shares granted by its shareholders on 23 May
2024, the UK Market Abuse Regulation, the Companies Act 2006, and Chapter 12
of the Financial Conduct Authority's Listing Rules. The maximum number of
shares to be acquired under the Programme is 509,136,022, being the number of
shares the Company is authorised to purchase pursuant to the authority granted
by shareholders at the AGM on 23 May 2024, less the shares acquired by the
Company pursuant to the share buyback programme announced by the Company on 13
June 2024 which completed on 8 November 2024. The Programme will end no later
than 12 September 2025.

 

 

-ENDS-

 

Notes to editors

 

About L&G

 

Established in 1836, L&G is one of the UK's leading financial services
groups and a major global investor, with £1.1 trillion in total assets under
management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

 

We have a highly synergistic business model, which continues to drive strong
returns. We are a leading international player in Institutional Retirement, in
Retail Savings and Protection, and in both public and private markets through
our Asset Management division. Across the Group, we are committed to
responsible investing and dedicated to serving the long-term savings and
investment needs of customers and society.

 

As at 12 March 2025, L&G has a market capitalisation of £14.1 billion.

 

Further information

Name: Michelle Moore

Role: Group Strategy & Investor Relations Director

Tel: +44 203 124 2091

Email: investor.relations@group.landg.com
(mailto:investor.relations@group.landg.com)

 

Name: Gregory Franck

Role: Investor Relations Director

Tel: +44 203 124 4415

Email: investor.relations@group.landg.com
(mailto:investor.relations@group.landg.com)

 

Name: Natalie Whitty

Role: Group Corporate Affairs Director

Tel: +44 738 443 5692

Email: natalie.whitty@group.landg.com (mailto:natalie.whitty@group.landg.com)

 

Name: Lucy Legh / Nigel Prideaux

Role: External Consultants, Headland Consultancy

Tel: +44 20 3805 4822

Email: LandG@headlandconsultancy.com (mailto:LandG@headlandconsultancy.com)

 

 

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  MSCGPUCCWUPAGMP