REG - Serco Group PLC - Share re-purchase

SercoAnnouncement

17/08/2022 07:00

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RNS Number : 2427W  Serco Group PLC  17 August 2022

Serco share repurchase programme

 

17  August 2022

 

Serco today provides this further announcement, in connection with its
intention as announced on 23 February 2022 to repurchase shares valued at up
to £90 million.  As announced on 8 March 2022, the first buyback tranche was
to repurchase shares with a value of up to £40 million during the period
starting on 8 March 2022 and ending no later than 16 August 2022. This first
buyback tranche has now completed and during that period the aggregate number
of shares purchased was 25,245,738] shares.  The second buyback tranche will
be a programme with a value of up to £50 million (the "Programme"). This will
occur during the period starting 17 August 2022 and ending no later than 31
December 2022 (the "Engagement Period"). The aggregate number of shares
acquired by the Company shall not exceed the balance of 106,229,148  shares
remaining of the 121,800,878 shares authorised by shareholders at the 2022
Annual General Meeting.  It is intended that any shares repurchased under the
Programme will be transferred into treasury and subsequently cancelled.

 

The Company has entered into an agreement with Barclays under which it has
issued an irrevocable instruction to Barclays to manage the Programme for the
Engagement Period. Barclays 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.

 

In accordance with Article 5(1)(b) of Regulation (EU) No. 596/2014 (as
incorporated into UK domestic law by the European Union (Withdrawal) Act 2018)
(the Market Abuse Regulation) detailed information about the individual
purchases can be seen below.

 

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)

 

LEI: 549300PT2CIHYN5GWJ21

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