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REG - MITIE Group PLC - Mitie resumes share buybacks with £100m programme

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RNS Number : 1894D  MITIE Group PLC  14 October 2025

 

14 October 2025

Mitie Group plc

 

 

Mitie resumes share buybacks with new £100m programme

 

Mitie Group plc ("Mitie" or "the Group"), the UK's leading Facilities
Management, Transformation and Compliance company, announces that, following a
strong H1 FY26, it is launching a new £100m share buyback programme (the
"Share Buyback Programme") in respect of its ordinary shares of 2.5 pence each
("Ordinary Shares"), commencing from the date of this announcement and
completing within 12 months.

 

The Board's capital deployment policy prioritises a progressive dividend
policy at a payout ratio of between 30-40% and the purchase of all shares to
fulfil employee incentive schemes. We will continue to pursue infill M&A
opportunities that are a good strategic fit for our business, and we remain
committed to the return of surplus funds to shareholders to maintain leverage
within our 0.75-1.5x target range (post-IFRS 16 average net debt/EBITDA).

 

Following the recent acquisition of Marlowe plc, our expectation is for
leverage to quickly reduce within the target range (H1 FY26: c.1.0x 1 )
through free cash flow generation and increasing profitability, providing
capacity to resume share buybacks.

 

Within the Share Buyback Programme, c.3m shares will be held in treasury to
satisfy the 2022 Save As You Earn (SAYE) scheme, vesting in February 2026.
Ordinary shares purchased in excess of this will be cancelled.

 

In order to execute the Share Buyback Programme, Mitie has entered into an
instruction with Peel Hunt LLP ("Peel Hunt") in respect of the £100m
(excluding expenses) programme in relation to the purchase by Peel Hunt,
acting as principal during the period commencing on 14 October 2025 and ending
no later than 30 September 2026, of Ordinary Shares in the share capital of
Mitie ("Shares") and the simultaneous on-sale of such Ordinary Shares by Peel
Hunt to Mitie. Peel Hunt will make its trading decisions concerning the timing
of the purchases of Mitie's Ordinary Shares independently of, and uninfluenced
by, the Group.

 

The Share Buyback Programme will be conducted within certain pre-set
parameters, and in accordance with the general authority to repurchase shares
granted by Mitie's shareholders at the 2025 Annual General Meeting, Chapter 9
of the UK Listing Rules and the provisions of the Market Abuse Regulation
596/2014/EU dealing with buyback programmes.

 

Mitie will announce any market repurchase of Ordinary Shares no later than
7.30 a.m. on the business day following the calendar day on which the
repurchase occurred.

 

 

- END -

For further information

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

 Group IR & 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

 Neil Bennett                                M: +44 (0)790 000 0777  E: mitie@h-advisors.global (mailto:mitie@h-advisors.global)

 H/Advisors Maitland

 

About Mitie: The Future of High Performing Places

Founded in 1987, Mitie employs 80,000 colleagues and is the leading
technology-led Facilities Management, Transformation and Compliance company in
the UK.  We are a trusted partner to around 3,000 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
transformational projects in the areas of power and grid connections, building
fit outs & modernisation, decarbonisation, fire safety & security and
telecoms infrastructure, alongside compliance capabilities in fire safety
& security and environmental services.  Our sector expertise includes
central government, critical national infrastructure, defence, financial
services, healthcare & life sciences, local government & education,
retail & logistics, manufacturing & media and transport &
aviation.

We hold industry-leading ESG credentials, including a place on the CDP Climate
change A List, and we have received multiple awards including Best Low Carbon
Solution and Net Zero Carbon Strategy of the year. We have validated
science-based targets that support our ambitions to reach Net Zero.  We have
been recognised as a UK Top Employer for the seventh consecutive year and Most
Admired Company in the Support Services sector. We are also ranked 16th in the
Top 100 Apprenticeship employers and ninth in the Inclusive Top 50 UK
Employers list. Find out more at www.mitie.com
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.mitie.com%2F&data=05%7C02%7CClaire.Lovegrove%40mitie.com%7Cd2d1ed53d7494b4f5d1608ddcea686e0%7C9e66e0b4768c4506a1b67e44c80595f2%7C0%7C0%7C638893936794778789%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=WzGlhZ8UAN0yTYDWe7yLrRnGZNbgLQw8E7Cm4zAF51A%3D&reserved=0)

 

 

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