REG - Naked Wines PLC - Launch of Share Buyback Programme

Naked WinesAnnouncement

11/08/2025 07:00

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RNS Number : 6884U  Naked Wines PLC  11 August 2025

 11 August 2025

 

Naked Wines plc

('Naked Wines' or 'Group')

 

Launch of Share Buyback Programme

 

Naked Wines is pleased to announce the launch of a share buyback programme
("Share Buyback Programme") to purchase ordinary shares of 7.5 pence each in
the capital of the Group ("Ordinary Shares") up to a maximum aggregate
consideration of £2 million (the "Maximum Amount") in order to further
enhance shareholder returns.

 

Naked Wines has entered into a non-discretionary arrangement with Panmure
Liberum Limited ("Panmure Liberum"), to conduct the Share Buyback Programme on
its behalf starting from today. Under these arrangements, Panmure Liberum will
make trading decisions in relation to the buyback of the Group's ordinary
shares of 7.5 pence each independently of the Group within the programme terms
and pre-set parameters.

 

In line with the authority given at the 2024 AGM, the maximum price per
Ordinary Share (exclusive of exepnses) may not exceed the higher of 105 per
cent of the average middle market quotations for an Ordinary Share, as derived
from the London Stock Exchange Daily Official List, for the five business days
immediately preceding the day on which the Ordinary Share is purchased; an
amount equal to the higher of the price of the last independent trade of an
ordinary share; and the highest current independent purchase bid for an
ordinary share on the trading venue where the purchase is carried out at the
relevant time, including when shares are traded on different venues.

 

All ordinary shares repurchased by the Group under the Share Buyback Programme
will be cancelled.

 

Shares purchased under the Share Buyback Programme will continue to take place
in open market transactions and may be made from time to time depending on
market conditions, share price and trading volumes. The Share Buyback
Programme will be effected under the authority granted by shareholders at the
Group's September 2024 Annual General Meeting ("AGM") to purchase a maximum of
 7,400,413 Ordinary Shares. This authority will expire at the conclusion of
the next AGM of the Company in September 2025, however the Board intend to
seek renewal of this power at its 2025 AGM.

 

The Share Buyback Programme will be conducted within the parameters of the
Market Abuse Regulation 596/2014/EU as it forms part of UK law by virtue of
the European Union (withdrawal) Act 2018, as amended and the delegated
regulations made pursuant to it, save that there may be circumstances where
the Company conducts share repurchases such that they exceed 25 per cent (but
not more than 50 per cent) of the average daily volume in Ordinary Shares for
the 20 trading days prior to the share repurchase (the "Volume Limit").
Accordingly, the Group may not benefit from the exemption contained in Article
5(1) of MAR in these circumstances. The Volume Limit may be exceeded should
Panmure Liberum consider, at its discretion, that an opportunity has arisen to
acquire a significant number of shares in one trade. In such circumstances, an
announcement of the purchase will be made as soon as possible following such
trade taking place.

 

The Group has authorised the Share Buyback Programme to commence from today
and will continue until the earlier of: the date on which the Maximum Amount
payable by the Company has been reached, or 4 November 2025, conditional on
the share buyback authority being renewed at the Company's 2025 AGM.

 

Any market purchase of Ordinary Shares pursuant to the Share Buyback Programme
will be announced no later than 7:30am (UK time) on the business day following
the day on which the purchase occurred.

The Group confirms that it currently has no unpublished price sensitive
information.

 

For further information, please contact:

 

 Naked Wines                                                                                     IR@nakedwines.com (mailto:IR@nakedwines.com)
 plc

 Rodrigo Maza, Chief Executive Officer

 Dominic Neary, Chief Financial Officer

 Catherine Miles / Libby Bundock

 Investec (Nomad & Joint Broker)                                                                 Tel: 0207 597 5970

 David Flin

 Panmure Liberum (Joint Broker)                                                                  Tel: 0203 100 2222

 Ed Thomas / John More / Dru Danford

 Vigo Consulting (Financial PR)                                                                  Tel: 0207 390 0230

 Tim McCall / Guy Scarborough / Damian Reece

 

About Naked Wines

 

Naked Wines (https://www.nakedwines.co.uk/)  is not just an online wine
retailer; we're trailblazers on a mission to enable enthusiastic wine drinkers
to enjoy great wine without the guesswork.

Founded in 2008, on the pillars of quality, choice and fair pricing, we set
out to create the most inclusive wine club in the world - dedicated to
transforming the wine-buying experience and empowering people to make their
own wine choices, and championing world-class independent winemakers. We've
proudly been delivering outstanding wines to our customers (who we call
Angels) for over 16 years.

 

Our business model is simple yet innovative: Naked Wines funds the production
costs for winemakers upfront, allowing them to focus on creating exceptional
wines without the financial burdens of traditional wine production, while
passing the resulting savings back to our customers.

 

The virtuous circle is a win-win for both wine lovers and winemakers, and
enables us to deliver superior benefits to our customers:

 

- Better quality wine

- More choice

- Personalised wine recommendations

- Elimination of guesswork and uncertainty

- Fair payments for all involved

 

Our Angel customers in the UK, US and Australia have direct access to over 300
world-class independent winemakers and over 2,500 quality wines from 23
countries.

 

For more information visit nakedwinesplc.co.uk
(https://www.nakedwinesplc.co.uk/)  and nakedwines.co.uk
(http://nakedwines.co.uk/)  or find us @nakedwines
(https://www.instagram.com/nakedwines)

 

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