Brief: Virgin Money cancels buyback programme

Virgin Money UK

02/04/2024 07:04

April 2 (Reuters) - Virgin Money UK Plc  VMUK.L :
    * CLYDESDALE BANK PLC  - CANCELLATION OF BUYBACK PROGRAMME
    * On 7 March 2024 Virgin Money announced that it was
suspending
the £150m buyback programme announced on 23 November 2023, given
the proposed acquisition of the Company by Nationwide Building
Society
    * UNDER BUYBACK PROGRAMME, COMPANY RETURNED C.£63 MILLION TO
ITS
SHAREHOLDERS, WITH REMAINING C.£87 MILLION FULLY DEDUCTED FROM
ITS CET1 RESOURCES DURING Q1.
    * AS A RESULT OF TODAY'S ANNOUNCEMENT, COMPANY EXPECTS A
CET1
RATIO BENEFIT AT Q2.

Source text for Eikon:  ID:nRSB9104Ia 
Further company coverage:  VMUK.L 

 (Reporting By Sinead Cruise)
 ((sinead.cruise@thomsonreuters.com;))