REG - TP ICAP Group plc - Launch of sixth share buyback programme of £80m

TP IcapAnnouncement

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RNS Number : 3082W  TP ICAP Group plc  12 March 2026

TP ICAP Group plc

LEI: 2138006YAA7IRVKKGE63

12 March 2026

 

 

TP ICAP Group plc

Launch of sixth share buyback programme of £80 million

 

Following the completion of its fifth buyback programme of £30 million
(the "Fifth Buyback"), TP ICAP Group plc (the "Company" or "TP ICAP")
announces that it will commence a sixth share buyback programme of TP ICAP's
ordinary shares of 25p each (the "Ordinary Shares") for a maximum
consideration of £80 million (the "Sixth Buyback", together with the First,
Second, Third, Fourth and Fifth Buyback, the "Buybacks"), in order to reduce
the capital of the Company and/or meet obligations under employee share
schemes. Ordinary Shares purchased under the Sixth Buyback that are not
cancelled will have their rights to dividend receipt waived by the Company.

TP ICAP is cash generative with a prudent capital management framework. The
Sixth Buyback highlights the Board's continued confidence in the future
prospects of TP ICAP, its strong financial delivery, operational progress and
continued capital discipline. The buyback includes £50m from our legal
entities rationalisation programme, delivered ahead of schedule. Since 2023 TP
ICAP has completed or announced £230m of share buybacks.

Any Ordinary Share purchases will be made by the Company within certain
pre-set parameters and in accordance with the general authority of the Company
to repurchase shares granted by shareholders at the Company's Annual General
Meeting held on 14 May 2025, which permits the Company to purchase no more
than 75,253,839 Ordinary Shares (or 10% of the Ordinary Shares in issue at
that time, excluding Treasury Shares).

The Sixth Buyback will be conducted in compliance with Chapter 9 of the
Financial Conduct Authority's Listing Rules and with European Union (EU)
Regulation No 596/2014 ("MAR") and the MAR buyback technical standards
(Commission Delegated Regulation (EU) 2016/1052) (the "Technical Standards"),
both of which form part of Retained EU Law as defined in the European
Union (Withdrawal) Act 2018.

The Company will initially rely on the safe harbour conditions for trading set
out in Article 3(2) and Article 3(3) of the Technical Standards. However, if
the safe harbour conditions were to constrain the Company's ability to
purchase the Sixth Buyback within the targeted timeframe given, for example,
share illiquidity, the Company may subsequently decide and announce its
intention to trade outside of the safe harbour conditions.

The Company has entered into an agreement with Peel Hunt LLP ("Peel Hunt")
under which it has issued instructions to Peel Hunt to manage the Sixth
Buyback as "matched" principal". Peel Hunt will carry out the Company's
instructions through the acquisition of Ordinary Shares for subsequent
repurchase by the Company. This arrangement is in accordance with Chapter 9 of
the FCA's Listing Rules and the Company's general authority to repurchase
Ordinary Shares. Peel Hunt will make its trading decisions independently of,
and uninfluenced by, the Company during any closed periods of the Company.

Peel Hunt will undertake transactions in Ordinary Shares on any available
trading venue or on an over-the-counter basis in order to execute the Sixth
Buyback. Disclosure of such transactions will not be made by Peel Hunt as a
result of or as part of the Sixth Buyback, but Peel Hunt will continue to make
any disclosures it is otherwise legally required to make.

Details of any and all purchases made under the Sixth Buyback will be provided
via RNS announcements by no later than the end of the seventh daily market
session following the date of execution of such purchase according to the
newly-updated Listing Rule UKLR 9.6.6 and also published in the regulatory
news section of the Company's website.

Forward looking statements

This document contains forward looking statements with respect to the
financial condition, results and business of the Group. By their nature,
forward looking statements involve risk and uncertainty and there may be
subsequent variations to estimates. The Group's actual future results may
differ materially from the results expressed or implied in these
forward-looking statements.

 

Enquiries:

Group Company Secretary

Vicky Hart

Email: companysecretarial@tpicap.com (mailto:companysecretarial@tpicap.com)

Analysts and investors

Derek Brown

+44 (0) 7200 7000

Email: InvestorRelations@tpicap.com (mailto:InvestorRelations@tpicap.com)

Media

Richard Newman

+44 (0) 7469 039 307

Email: richard.newman@tpicap.com (mailto:richard.newman@tpicap.com)

 About TP ICAP

  ·          TP ICAP connects buyers and sellers in global financial, energy and
             commodities markets.
 ·           We are the world's leading wholesale market intermediary, with a portfolio of
             businesses that provide broking services, data & analytics and market
             intelligence, trusted by clients around the world.
 ·           We operate from more than 60 offices across 28 countries, supporting brokers
             with award-winning and market-leading technology.

 

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