Kingspan Group PLC Commencement of Share Buyback Programme

RNS Number : 2229M

Kingspan Group PLC

26 April 2024

 

KINGSPAN GROUP PLC

 

Inside Information

Commencement of Share Buyback Programme

 

 

26 April 2024

 

Kingspan, the global leader in high performance insulation and building envelopes, announces that it intends to commence a limited Share Buyback Programme (the "Buyback") to repurchase up to 1,500,000 Ordinary Shares of €0.13 each (the "Shares") in the capital of the Company in order to offset dilution from share issuances.

 

Kingspan has entered into non-discretionary arrangements with Goodbody Stockbrokers UC ("Goodbody") to repurchase the Shares on its behalf, on a riskless principal basis, and to make trading decisions under the Buyback independently of Kingspan in accordance with certain pre-set parameters.

The Buyback will commence today, 26 April 2024 and will end no later than 31 December 2024 subject to market conditions. Under the terms of the Buyback, all Shares will be purchased by Goodbody on the Company's behalf for subsequent repurchase by the Company in each case on Euronext Dublin.

The Buyback is within the limits of the applicable authority granted by shareholders at today's Annual General Meeting.

 

The Buyback will also be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 ("MAR") as well as the listing rules of Euronext Dublin. For the purpose of MAR, the Buyback will enable the Company to meet obligations arising from share option programmes and Shares repurchased for this purpose will be held in treasury.

Kingspan will make further announcements following any repurchase of shares.  There is no guarantee that the Buyback will be implemented in full.

 

For further information please contact:

 

Lorcan Dowd

Company Secretary

+ 353 (0)42 9698000

 

Note: This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR. The person responsible for arranging the release of this announcement on behalf of the Company is Lorcan Dowd, Kingspan Group plc's Company Secretary and General Counsel. The date and time of this statement is the same as the date and time that it has been communicated to the media.

 

 

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