REG - MITIE Group PLC - Completion of £100m Share Buyback Programme

MITIEAnnouncement

01/04/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250401:nRSA0236Da&default-theme=true

RNS Number : 0236D  MITIE Group PLC  01 April 2025

1 April 2025

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

 

Completion of £100m Share Buyback Programme

Details of new programme to be announced in FY25 Trading Update

 

Mitie Group plc ("Mitie" or "the Group") announces that it has completed its
FY25 share buyback programme ("Share Buyback Programme"), initially announced
on 15 April 2024 and doubled from £50m to £100m on 24 July 2024.

Over the duration of the FY25 Share Buyback Programme, the Group spent £100m
purchasing a total of 89m ordinary shares of 2.5p each at an average price of
112p 1 , of which 79m shares (representing c.6% of the Group's issued share
capital) have been cancelled.

The remaining 10m shares were purchased to satisfy awards vesting under the
Group's 2021 SAYE scheme in February 2025, for which the Group has received
proceeds of c.£4m arising upon the exercise to date of these awards (being
the discounted option price paid by employees).

In total, over the past three years, the Group has purchased 216m shares
through share buyback programmes, at a net cost of £200m and average price of
c.93p, of which 174m shares (representing c.12% of the Group's issued share
capital) have been cancelled.

The Group will provide an update on its proactive capital deployment policy,
including details of the new FY26 Share Buyback Programme, in its FY25 Trading
Update on 16 April 2025.

 

For further information

 Kate Heseltine                            M: +44 (0)738 443 9112  E: kate.heseltine@mitie.com (mailto:kate.heseltine@mitie.com)

 Group IR and Corporate Finance Director

 Claire Lovegrove                          M: +44 (0)790 027 6400  E: claire.lovegrove@mitie.com (mailto:claire.lovegrove@mitie.com)

 Director of Corporate Affairs

 Emma Burdett                              M: +44 (0)797 331 9593

 H/Advisers Maitland

 

 

 

 

 

About Mitie: "Better places; Thriving Communities"

 

Founded in 1987, Mitie employs 72,000 colleagues and is the leading
technology-led Facilities Transformation company in the UK. We are a trusted
partner to around 3,000 blue chip customers across the public and private
sectors, working with them to transform their built estates, and the lived
experience for their colleagues and customers, as well as providing
data-driven insights to inform better decision-making.

 

In each of our core services of engineering (hard services) and security and
hygiene (soft services) we hold market leadership positions. We also deliver
projects capabilities in the areas of power and grid connections, building fit
outs & modernisation, decarbonisation, fire & security, and telecoms
infrastructure. Our sector expertise includes central government, critical
national infrastructure, defence, financial services, healthcare & life
sciences, local government & education, retail & logistics and
transport & aviation.

 

We hold industry-leading ESG credentials, including a place on the CDP Climate
change A List, and we have received multiple industry awards recently
including B2B Marketing Team of the Year, Best Low Carbon Solution and Net
Zero Carbon Strategy of the year. Targeting Net Zero by the end of 2025, our
ambitious emissions reduction plans have been validated by the Science Based
Targets initiative (SBTi). We have been recognised as a UK Top Employer for
the seventh consecutive year and Most Admired Company in the Support Services
sector. Find out more at www.mitie.com.

 

 

 1  Inclusive of c.£4m discounted option price proceeds from the 2021 SAYE
scheme shares that have been exercised to date. These proceeds have been
reinvested into the £100m share buyback programme.

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  MSCWPURUWUPAGBG