Notice of GM
17/01/2024 10:01
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240117:nRSQ0070Aa&default-theme=true RNS Number : 0070A Mears Group PLC 17 January 2024 17 January 2024 LEI: 213800DHCALLH8IRJV57 Mears Group PLC (the "Company") Notice of General Meeting Share Buyback Programme The Company today announces that it has posted to shareholders a notice of general meeting of the Company's shareholders (the "Notice of General Meeting"), together with a form of proxy. The general meeting of the Company's shareholders is to be held at the Company's offices at 1390 Montpellier Court, Gloucester Business Park, Brockworth, Gloucester GL3 4AH on 12 February 2024 at 9:30 a.m., at which a special resolution will be proposed to authorise the Company to purchase up to 10% of its own Ordinary Shares in the market. At the 2023 AGM, shareholders approved the purchase of up to 11,103,647 Ordinary Shares, which represented 10% of the Company's issued share capital as at 10 May 2023 (the "AGM Buyback Authority"). It was noted at the time that the Directors intended to use this authority to adopt a recurring programme of share buybacks. Since the 2023 AGM, the Company has repurchased 11,103,647 Ordinary Shares under two buyback programmes and, accordingly, the Company has now fully utilised the AGM Buyback Authority. The Directors intend to renew this authority at the Company's next annual general meeting, which is expected to be held in June 2024 (the "2024 AGM"). The Directors continue to believe in the attractiveness of share buybacks as a means of returning excess cash to Shareholders and, as announced on 11 January 2024, wish to seek additional authority to purchase shares in order to provide the Board with sufficient flexibility in delivering against its capital allocation strategy. The Resolution is therefore being proposed to seek additional authority in order to purchase up to 10% of the Company's current issued share capital in the market for the period between the General Meeting and the 2024 AGM. National Storage Mechanism The Notice of General Meeting and the form of proxy have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism) . A copy of the Circular (including the Notice of the General Meeting) will also be available for viewing on the Company's website at www.mearsgroup.co.uk (http://www.mearsgroup.co.uk) . For further information contact: Mears Group PLC Ben Westran, Company Secretary Tel: +44(0)1452 634660 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 NOGKDLBFZFLEBBK