REG - Uniphar PLC - Launch of €35m Share Buyback Programme

UnipharAnnouncement

26/02/2025 07:15

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RNS Number : 4465Y  Uniphar PLC  26 February 2025

26 February 2025

Uniphar plc

 

("Uniphar" or the "Group")

 

Launch of €35 million Share Buyback Programme

 

On 25 February 2025, in its Full Year Results for the year ended 31 December
2024, Uniphar announced it will launch a share buyback programme of up to
€35 million (the "Buyback Programme").

Uniphar has entered into an agreement with J&E Davy ("Davy") to act as
principal to conduct the Buyback Programme and to purchase ordinary shares of
€0.08 each (the "Shares") on Uniphar's behalf for a maximum aggregate
consideration of up to €35 million and to make trading decisions under the
Buyback Programme independently of the Company in accordance with certain
pre-set parameters.

The Buyback Programme will commence today, and end no later than 31 December
2025, subject to market conditions. The Buyback Programme is subject to
customary early termination rights and from time to time, the Board will
assess the progress of the Buyback Programme in light of the Company's capital
allocation needs. The purpose of the Buyback Programme is to reduce the share
capital of the Group and all Shares repurchased will be cancelled. Under the
terms of the Buyback Programme, the Shares will be repurchased on Euronext
Dublin. The Buyback Programme will be conducted in accordance with:

(i) the Group's general authority to repurchase Shares (which authorises the
repurchase of a maximum of 27,301,525 Shares, being approximately 10% of the
issued share capital of the Group) as approved by shareholders at the Group's
AGM on 9 May 2024 (and as such authority may be renewed and/or amended)(the
"Authority"); and

(ii) the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated
Regulation (EU) No 2016/1052 (including as each of them forms part of retained
EU law in the United Kingdom ("UK") from time to time, including, where
relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and Market
Abuse (Amendment) (EU Exit) Regulations 2019) as well as the applicable laws
and regulations of the UK Financial Conduct Authority and the Central Bank of
Ireland.

The execution of the Buyback Programme may be augmented by the purchase of
Shares by way of block trades effected by Davy as agent of the Group in
accordance with Uniphar's general authority to repurchase shares. Any Shares
repurchased through block trades will count towards the maximum consideration
payable, and the maximum number of Shares that may be repurchased, by the
Group under the Buyback Programme.

Details of any Shares repurchased under the Buyback Programme will be notified
to a Regulatory Information Service by the Group following repurchase.
Purchases may continue under the Buyback Programme during any closed period to
which the Group is subject. During any closed periods, Uniphar and its
directors have no power to invoke any changes to the Buyback Programme and it
will be executed at the sole discretion of Davy. The Group confirms that it
currently has no unpublished inside information.

There is no guarantee that the Buyback Programme will be implemented in full
or that any Shares will be bought back by the Group.

 

--- ENDS ---

Contact details

 

Uniphar Group

Tel: +353 (0) 1 428 7777

Allan Smylie, Head of Strategy and IR

 

Davy (Joint Corporate Broker, Nominated Advisor and Euronext Growth Listing
Sponsor)

Tel: +353 (0) 1 679 6363

Daragh O'Reilly

Niall Gilchrist

Ivan Murphy

 

RBC Capital Markets (Joint Corporate Broker)

Tel: +44 (0) 20 7653 4000

Jamil Miah

Rupert Walford

 

Stifel Nicolaus Europe Limited (Joint Corporate Broker)

Tel: +44 (0) 20 7710 7600

Matt Blawat

Ben Maddison

Francis North

 

Q4 PR

Tel: +353 (0) 1 475 1444

Iarla Mongey, Public Relations Advisor to Uniphar Group

About Uniphar plc

Headquartered in Dublin, Ireland, the Uniphar Group is an international
diversified healthcare services business servicing the requirements of more
than 200 multinational pharmaceutical and medical technology manufacturers
across three divisions - Uniphar Pharma, Uniphar Medtech and Uniphar Supply
Chain & Retail. The Group is active in Europe, North America, APAC and
MENA and delivers to 160+ countries.

The Company's vision is to improve patient access to pharmaco-medical products
and treatments by enhancing connectivity between manufacturers and healthcare
stakeholders. Uniphar represents a strong combination of scale, growth, and
profitability.

 

Uniphar Supply Chain & Retail

Uniphar Supply Chain & Retail is the leading pharmaceutical wholesaler in
Ireland with a growing symbol group offering of retail pharmacies. The Group's
strategy for Uniphar Supply Chain & Retail is to grow our wholesale market
share, our symbol group network and our own brand, in-licenced and consumer
products portfolio.

 

Uniphar Medtech

Uniphar Medtech is a leading Pan-European medical device distributor and
solutions partner. The Group's strategy for Uniphar Medtech is to grow our
service offering across Europe and expand our addressable market by serving
new specialities and new manufacturers.

 

Uniphar Pharma

Uniphar Pharma operates a global business with high value services across the
lifecycle of a pharmaceutical product. We enable pharma and biotech companies
to bring innovative medicines to global markets and provide healthcare
professionals with access to medicines they can't source through traditional
channels. Our strategy is to build a leading platform to provide the
specialist support and expertise needed to improve access to these medicines.

 

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