REG - Man Group plc - Share Buyback Programme of up to $100 million

ManAnnouncement

28/02/2025 10:30

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RNS Number : 9027Y  Man Group plc  28 February 2025

MAN GROUP PLC - SHARE BUYBACK PROGRAMME OF UP TO $100 MILLION

 

 

Man Group plc (the "Company") announces that it will commence a share buyback
programme of up to $100,000,000 (the "Share Buyback Programme"). The
Company has appointed Goldman Sachs International ("Goldman Sachs") to conduct
the Share Buyback Programme on its behalf and in accordance with certain
parameters.

 

The maximum number of ordinary shares (the "Shares") that may be repurchased
under the Share Buyback Programme is up to 109,827,230 shares, being the
number of shares the Company is authorised to purchase pursuant to the
authority granted by shareholders at the Company's 2024 Annual General Meeting
less the number of shares that have been purchased pursuant to that
authority 1  (#_ftn1) .

 

The Share Buyback Programme is in line with the Company's policy to distribute
capital to shareholders while maintaining a prudent balance sheet after taking
into account required capital and potential strategic opportunities. The Share
Buyback Programme will run from 03 March 2025 up to 03 March 2026. 
Purchases of Shares will be made on the Company's behalf in accordance with
the arrangement with Goldman Sachs (referred to below) and may continue
independently of and uninfluenced by the Company during any closed period to
which the Company is subject.

 

The purpose of the Share Buyback Programme is to reduce the share capital of
the Company and to enable the Company to meet obligations arising from
employee share option programmes, or other allocations of shares to employees
of the Company or to members of the administrative, management or supervisory
bodies of the Company, or an associate of the Company.

 

This arrangement is in accordance with the Company's general authority granted
by the Company's shareholders at the Company's 2024 AGM and will otherwise be
effected within the parameters of the Market Abuse Regulation (EU) 596/2014
and the Commission Delegated Regulation (EU) 2016/1052 (in each case including
as it forms part of the law of the United Kingdom by virtue of the
European Union (Withdrawal) Act 2018 as that Act is amended from time to time)
and Chapter 12 of the United Kingdom Listing Rules. 

 

Further information on the Company can be found on our internet site:
https://www.man.com/ (https://www.man.com/) .

 

Enquiries

 

Karan Shirgaokar

Head of Investor Relations

+44 20 7144 1434

investor.relations@man.com (mailto:investor.relations@man.com)

 

 1  (#_ftnref1) The Company intends to seek shareholder approval at its 2025
Annual General Meeting to renew its general authority to repurchase shares up
to a maximum number of shares (expected to represent approximately 10% of the
Company's ordinary share capital, excluding treasury shares, as at the latest
practicable date prior to publication of the notice of 2025 Annual General
Meeting).

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