REG - Rotork PLC - Share Buy-Back Programme

RotorkAnnouncement

07/11/2024 12:30

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RNS Number : 4002L  Rotork PLC  07 November 2024

 

Rotork plc

Share buy-back programme - Tranche 5

 

7 November 2024

 

As announced on 5 March 2024, Rotork plc ('Rotork' or the 'Company') commenced
a share buyback programme (the 'Programme') to repurchase ordinary shares of
0.5 pence each in the capital of the Company ('Ordinary Shares') of up to £50
million (excluding stamp duty and expenses). Our financial flexibility enables
us to pursue strategic investments and we remain active in looking for
suitable opportunities, consistent with our Growth+ strategy.

 

The fifth tranche will be carried out through an irrevocable non-discretionary
agreement with Morgan Stanley & Co. International Plc ('MS'), pursuant to
which MS shall purchase Ordinary Shares as riskless principal (and not as
agent of Rotork) for the subsequent sale on to, and purchase by, Rotork. The
fifth tranche of the Programme will commence on 7 November 2024 and end no
later than 31 December 2024. The aggregate purchase price of all Ordinary
Shares acquired under the fifth tranche of the Programme will be no greater
than £10 million (excluding stamp duty and expenses). Any purchases under the
Programme will take place in accordance with (and subject to the limits
prescribed by) the Company's general authority to repurchase Ordinary Shares
granted by its shareholders at the Company's 2024 Annual General Meeting (the
'2024 Authority'). The maximum number of Ordinary Shares that the Company is
authorised to purchase under the 2024 Authority is 86,125,908 Ordinary Shares.
MS will make its trading decisions in relation to the Ordinary Shares
independently of, and uninfluenced by, the Company. Any Ordinary Shares
purchased by the Company will be cancelled.

 

Any purchase of Ordinary Shares in relation to the Programme will be carried
out on the London Stock Exchange and any other UK recognised investment
exchange which may be agreed, in accordance with pre-set parameters and in
accordance with (and subject to limits prescribed by) the Company's 2024
Authority, Chapter 9 of the Financial Conduct Authority's UK Listing Rules,
Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic
law by the European Union (Withdrawal) Act 2018) and Commission Delegated
Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the
European Union (Withdrawal) Act 2018). Rotork will announce any market
repurchases of Ordinary Shares no later than 7.30 a.m. on the business day
following the calendar day on which the repurchase occurred.

 

Enquiries to:

 

Andrew Carter, Investor Relations Director, Rotork Plc     Tel: +44 (0)
1225 733 200

 

 

Legal Entity Identifier: 213800AH5RZIHGWRJ718

 

 

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