REG - Serco Group PLC - Serco share repurchase programme

SercoAnnouncement

28/02/2023 11:30

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RNS Number : 2131R  Serco Group PLC  28 February 2023

Serco share repurchase programme

 

28 February 2023

Serco Group plc

LEI: 549300PT2CIHYN5GWJ21

 

Serco today provides this further announcement in connection with its
intention to repurchase shares over the next 10 months valued at up to £90
million (the "Programme"), as announced on 28 February 2023.

 

This will occur during the period starting on 1 March 2023 and ending no later
than 29 December 2023 (the 'Engagement Period'). The aggregate number of
shares acquired by the Company shall not exceed the balance of 76,128,175
shares remaining of the 121,800,878 shares authorised by shareholders at the
2022 Annual General Meeting, or any amount subsequently approved by
shareholders at the 2023 Annual General Meeting. It is intended that the
shares repurchased under the Programme will be transferred into treasury.

 

The Company has entered into an agreement with J.P. Morgan Securities plc
('JPMS plc') under which it has issued an irrevocable instruction to JPMS plc
to manage the Programme for the Engagement Period. JPMS plc will carry out the
instruction through the acquisition of ordinary shares in the Company for
subsequent repurchase by the Company. This arrangement is in accordance with
Chapter 12 of the FCA's Listing Rules and the Company's general authority to
repurchase shares.

 

JPMS plc may undertake transactions in ordinary shares of the Company (which
may include sales and hedging activities, in addition to purchases which may
take place on any available trading venue or on an over the counter basis)
during the Engagement Period in order to manage its market exposure under the
Programme. Disclosure of such transactions will not be made by JPMS plc as a
result of or as part of the Programme, but JPMS plc will continue to make any
disclosures it is otherwise legally required to make.

 

Ends

 

For further information please contact:

Paul     Checketts,     Head     of    Investor
Relations,     tel:     +44     (0)     7718    195
074    or email: paul.checketts@serco.com (mailto:paul.checketts@serco.com)

Marcus De       Ville,    Head of      Media
Relations,     tel: +44 (0)        7738    898    550 or
email: marcus.deville@serco.com (mailto:marcus.deville@serco.com)

 

About Serco

Serco is a leading provider of public services. Our customers are governments
or others operating in the public sector. We gain scale, expertise and
diversification by operating internationally across five sectors and four
geographies: Defence, Justice & Immigration, Transport, Health and Citizen
Services, delivered in UK & Europe, North America, Asia Pacific and the
Middle East. More information can be found at www.serco.com
(http://www.serco.com/)

 

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