Man Group plc Share Buyback Programme of up to $100 million

RNS Number : 9027Y

Man Group plc

28 February 2025

 

MAN GROUP PLC - SHARE BUYBACK PROGRAMME OF UP TO $100 MILLION

 

 

Man Group plc (the "Company") announces that it will commence a share buyback programme of up to $100,000,000 (the "Share Buyback Programme"). The Company has appointed Goldman Sachs International ("Goldman Sachs") to conduct the Share Buyback Programme on its behalf and in accordance with certain parameters.

 

The maximum number of ordinary shares (the "Shares") that may be repurchased under the Share Buyback Programme is up to 109,827,230 shares, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2024 Annual General Meeting less the number of shares that have been purchased pursuant to that authority[1].

 

The Share Buyback Programme is in line with the Company's policy to distribute capital to shareholders while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities. The Share Buyback Programme will run from 03 March 2025 up to 03 March 2026.  Purchases of Shares will be made on the Company's behalf in accordance with the arrangement with Goldman Sachs (referred to below) and may continue independently of and uninfluenced by the Company during any closed period to which the Company is subject.

 

The purpose of the Share Buyback Programme is to reduce the share capital of the Company and to enable the Company to meet obligations arising from employee share option programmes, or other allocations of shares to employees of the Company or to members of the administrative, management or supervisory bodies of the Company, or an associate of the Company.

 

This arrangement is in accordance with the Company's general authority granted by the Company's shareholders at the Company's 2024 AGM and will otherwise be effected within the parameters of the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (in each case including as it forms part of the law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 as that Act is amended from time to time) and Chapter 12 of the United Kingdom Listing Rules. 

 

Further information on the Company can be found on our internet site: https://www.man.com/.

 

Enquiries

 

Karan Shirgaokar

Head of Investor Relations

[phone]

[e-mail]

 

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[1] The Company intends to seek shareholder approval at its 2025 Annual General Meeting to renew its general authority to repurchase shares up to a maximum number of shares (expected to represent approximately 10% of the Company's ordinary share capital, excluding treasury shares, as at the latest practicable date prior to publication of the notice of 2025 Annual General Meeting).

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