REG - LSL Property Svcs. - £12m Share Buyback Programme

LSL Property ServicesAnnouncement

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RNS Number : 4401Q  LSL Property Services PLC  27 January 2026

27 January 2026

LSL Property Services plc ("LSL" or "Group")

£12m Share Buyback Programme

Following the recent completion of its £7.0 million share buyback programme
which was announced on 25 April 2024, LSL, the leading B2B platform for UK
residential property market services, announces the commencement of a new
share buyback programme in respect of its ordinary shares of 0.2 pence each
("Ordinary Shares") up to a maximum consideration of £12.0 million (the
"Maximum Amount") from the date of this announcement ("SBB").

This new programme reflects the financial strength of the Group, its capital
light operating model and its ongoing strong cash generation capability. Under
the new SBB, the Group will seek to buy back up to £12m its Ordinary Shares
using existing cash resources. The Board believes that this is an appropriate
use of the Group's capital and will continue a programme of buybacks as a
relevant element of total returns to shareholders, alongside twice yearly
dividend payments.

Shore Capital Stockbrokers Limited ("Shore Capital") has been appointed to
manage the non-discretionary share buyback programme to repurchase Ordinary
Shares on its behalf for a period commencing today and ending no later than
26(th) January 2027. LSL also announces that Shore Capital has been instructed
to carry out the SBB on an irrevocable basis under certain pre-agreed
circumstances. In such circumstances, Shore Capital will conduct the SBB on
LSL's behalf and make trading decisions under the SBB independently of LSL.

In order to complete the SBB in an effective manner, the Group has instructed
Shore Capital that on any given trading day to buyback Ordinary Shares under
the SBB in excess of 25 per cent. of the average daily trading volume on the
trading venue where the purchase is carried out. On days where a buyback of
shares exceeds 25 per cent. of the average daily trading volume, LSL will not
fall within the exemption contained in Article 5(1) of UK MAR (as later
defined).

Shore repurchases will be made on the Group's behalf and in accordance with
the arrangement with Shore Capital in open market transactions, depending on
market conditions, share price and trading volume. The maximum price paid per
Ordinary Share will be limited to no more than the higher of: (i) 105 per cent
of the average middle market closing price of the Company's Ordinary Shares
for the five business days before the purchase is made; and (ii) the higher of
the price of the last independent trade and the highest current independent
bid for an Ordinary Share on the trading venue where the purchase is carried
out.

It is intended that the repurchased shares be held in treasury. Such treasury
shares are not entitled to dividends and have no voting rights at the
Company's general meetings. The Group has authority to purchase up to a
maximum of 10,398,251 Ordinary Shares granted by its shareholders at its AGM
held in 2025 and intends to seek a renewal of the general authority to
purchase Ordinary Shares at its AGM to be held in 2026 for up to 10% of its
issued share capital.

The SBB will be effected within the parameters prescribed by the Market Abuse
Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU
(each as in force in the UK, from time to time, including, where relevant,
pursuant to the UK's Market Abuse (Amendment) (EU Exit) Regulations 2019) ("UK
MAR").

Details of any Ordinary Shares repurchased will be notified to a Regulatory
Information Service by the Group following any repurchase as required by UK
MAR and the Listing Rules of the FCA. LSL confirms that currently it has no
unpublished inside information.

Under the previous share buyback programme, the Group has repurchased
2,610,470 Ordinary Shares at an average purchase price of 268 pence per
share.  This represents 3% of the current outstanding share capital.

 

For further information, please contact:

 

 Adam Castleton, Group Chief Executive Officer
 David Tilak, Group Chief Financial Officer
 Phil Clark, Investor Relations
 LSL Property Services plc                      investorrelations@lslps.co.uk (mailto:investorrelations@lslps.co.uk)

 Helen Tarbet
 Sophie Wills
 Toto Berger
 Burson Buchanan                                LSL@buchanan.uk.com (mailto:LSL@buchanan.uk.com)

 

 

Notes on LSL

LSL is one of the largest providers of services to mortgage intermediaries and
estate agent franchisees.

Over 2,700 advisers representing over 11% of the total purchase and remortgage
market.

Its 62 estate agency franchisees operate in 310 territories.

LSL is also one of the UK's largest providers of surveying and valuation
services, supplying six out of the seven largest lenders in the UK.

For further information please visit LSL's website: lslps.co.uk
(https://protect.checkpoint.com/v2/r02/___http:/www.lslps.co.uk/___.YXAxZTpzaG9yZWNhcDpjOm86OWY2NTQ4ZjE1Nzk2MDY3MmQwYjVkNDliM2RhNzVlNDM6NzpjZWJlOmU2ZjE0NmU1OWM5YmQzMWJmNGRjYzA3ODFhZjY4ZDU1NDAyOWU2MmM1OWYzN2JjNmE0ODk4MDRiZjg1ODhlNTk6cDpUOk4)

 

 

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