REG - Taylor Wimpey PLC - Share Buyback Programme

Taylor WimpeyAnnouncement

26/04/2022 16:00

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RNS Number : 4189J  Taylor Wimpey PLC  26 April 2022

 

 

 

 

 

 

 

 

26 April 2022

Taylor Wimpey plc

Share Buyback Programme - Launch of Second Tranche

 

Taylor Wimpey plc (the "Company") announces that it has instructed Credit
Suisse International ("CSI") to purchase up to £75,000,000 of the Company's
shares as part of the second tranche (the "Second Tranche") of its
£150,000,000 share buyback programme announced on 3 March 2022 (the "Buyback
Programme"). CSI will act as principal for the simultaneous on-sale of such
shares to the Company and will make its trading decisions concerning the
timing of the purchases of the Company's ordinary shares independently of the
Company. Purchases of the Company's shares under the Second Tranche will
commence tomorrow, 27 April 2022, and end no later than 29 July 2022.

 

The purpose of the Buyback Programme is to return excess capital to the
Company's shareholders and reduce the share capital of the Company, and it is
expected that the implementation of the Buyback Programme will enhance
earnings per share.

 

To the extent permitted by law, ordinary shares purchased under the Buyback
Programme will be cancelled.

 

Any acquisitions under the Second Tranche will be carried out within certain
pre-set parameters in accordance with the Company's general authority to
repurchase shares as granted at the Company's 2022 Annual General Meeting,
which took place earlier today, pursuant to which the maximum number of shares
to be bought back by the Company may not exceed 364,892,070 ordinary shares of
1 pence each.

 

Any acquisitions will be made in accordance with the EU Market Abuse
Regulation (596/2014) as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules.

 

 

-Ends-

 

 

For further information please contact:

Taylor Wimpey plc
 
Tel: +44 (0) 1494 858323

Chris Carney, Group Finance Director

Alice Black, Group General Counsel and Company Secretary

 

Notes to editors:

Taylor Wimpey plc is a customer-focused homebuilder operating at a local level
from 23 regional businesses across the UK. We also have operations in Spain.
Our purpose is to deliver great homes and create thriving communities.

For further information please visit the Group's website:
www.taylorwimpey.co.uk/corporate (https://www.taylorwimpey.co.uk/corporate)

Follow us on Twitter @TaylorWimpeyplc

 

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