REG - Man Group plc - Share buyback programme of up to $50million

ManAnnouncement

05/03/2024 07:00

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RNS Number : 5423F  Man Group plc  05 March 2024

MAN GROUP PLC - PURCHASES OF SHARES

As previously communicated to the market, Man Group plc (the "Company")
announces that it will commence a share buyback programme of up to $50,000,000
(the "Share Buyback Programme"). The Company has appointed Barclays Bank PLC,
acting through its investment bank ("Barclays") 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: (i) 116,279,809 shares, being the
number of shares the Company is authorised to purchase pursuant to the
authority granted by shareholders at the Company's 2023 Annual General Meeting
less the number of shares that have been purchased pursuant to that authority;
and (ii) following such expiration, the aggregate number of Shares authorised
to be purchased by the Company under any subsequent buyback authority granted
by shareholder resolution during the Share Buyback Programme (which in any
event shall be less than 15% of the relevant class of the Company's equity
shares at the date of such authority).

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 5 March 2024 to 3 March 2025.  Purchases of
Shares will be made on the Company's behalf in accordance with the arrangement
with Barclays (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 2023 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)

 

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