REG - Morgan Adv.Materials - Transaction in Own Shares

Morgan Advanced MaterialsAnnouncement

07/03/2025 15:30

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RNS Number : 8797Z  Morgan Advanced Materials PLC  07 March 2025

7 March 2025

Morgan Advanced Materials PLC

("Morgan Advanced Materials" or the "Company")

 

Share Buyback Programme - Commencement of Second Tranche

On 5 November 2024, Morgan Advanced Materials ("Morgan" or the "Company")
announced a share buyback programme of up to a maximum of £40 million
(excluding expenses) (the "Buyback Programme"). On 5 November 2024, the
Company further announced commencement of the first tranche of this Programme
to return up to £10 million of capital to shareholders ("Tranche 1") which
completed on 4 March 2025. On 28 February 2025, the Company announced the
intention to commence a second tranche of the Buyback Programme up to a
maximum of £10 million (excluding expenses) ("Tranche 2") immediately
following completion of Tranche 1.

Morgan today announces that Tranche 2 was commenced on 5 March 2025 which will
return up to a further £10 million of capital to shareholders. Any Shares
purchased pursuant to the Buyback Programme will be cancelled.

Any purchases of Shares effected pursuant to Tranche 2 will be subject to the
terms of the agreement with Investec and in accordance with (and subject to
the limits prescribed by) the Company's general authority to repurchase Shares
granted by shareholders at the Company's 2024 Annual General Meeting on 9 May
2024 and any authority granted by shareholders at the Company's 2025 Annual
General Meeting. Tranche 2 will be conducted in accordance with the Market
Abuse Regulation (EU) No 596/2014 (as it forms part of UK domestic law and as
amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the
Commission Delegated Regulation (EU) 2016/1052 (as it forms part of UK
domestic law and as amended by the FCA's Technical Standards (Market Abuse
Regulation) (EU Exit) Instrument 2019) and Chapter 9 of the UK Listing
Rules.

Any repurchase of Shares will be announced no later than 7:30 am on the
business day following the calendar day on which the repurchase occurred.
Subject to the terms of any authority granted by shareholders at the Company's
2025 Annual General Meeting, the maximum number of Shares that can be
purchased under Tranche 2 is 24,631,581.

Any further tranches of the Buyback Programme, which may be conducted after
completion of Tranche 2, will be announced in due course. There is no
guarantee that the Buyback Programme will be implemented in full or that any
Shares will be repurchased by the Company. The Buyback Programme will not
impact the Company's existing Share dividend policy, which will continue
unaffected through the regular awards of interim and final dividends.

For further enquiries:

Pete Raby, CEO
Morgan Advanced Materials
plc                                01753 837000

Richard Armitage, CFO

Nina Coad
 
Brunswick
 
0207 404 5959

 

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