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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Man Group Plc | LSE:EMG | London | Ordinary Share | JE00BJ1DLW90 | ORD USD0.0342857142 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.20 | -0.08% | 261.60 | 260.40 | 260.80 | 263.20 | 257.60 | 262.00 | 3,874,307 | 16:35:06 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Agriculture Production-crops | 1.21B | 234M | 0.1946 | 13.40 | 3.14B |
From May 2019 to May 2024
TIDMEMG
RNS Number : 0160U
Man Group plc
19 October 2017
Man Group plc
Share Repurchase Programme
19 October 2017
Man Group plc's (the "Company") policy is to distribute available capital surpluses to shareholders over time, by way of higher dividend payments and/or share repurchases, while maintaining a prudent balance sheet, after taking into account required capital (including liabilities for future earn-out payments) and potential strategic opportunities.
In line with this policy and the Company's previous announcement on 13 October 2017, the Board today announces that it has agreed to enter into an irrevocable, non-discretionary arrangement with Credit Suisse Securities (Europe) Limited to repurchase, on its behalf, ordinary shares in the Company up to a maximum consideration of $100 million (the "Programme") and subject to certain pre-set parameters, during the period from 19 October 2017 up to and including 18 October 2018 (the "Execution Period"), including during any closed or prohibited period of the Company which may fall during the Execution Period. The purpose of the Programme is to return surplus capital to shareholders. The number of shares to be acquired is estimated to be around 40 million* based on the prevailing share price and Sterling to US Dollar exchange rate as at the date immediately prior to this announcement.
All shares purchased under the Programme will be cancelled.
Any shares repurchased under the Programme will be effected in accordance with the Company's general authority to repurchase shares and Chapter 12 of the UKLA Listing Rules and will be discontinued in the event the Company ceases to have the necessary general authority to repurchase ordinary shares.
Enquiries
Fiona Smart
Head of Investor Relations
+44 20 7144 2030
fiona.smart@man.com
* In no circumstances will the Programme equal or exceed 15% of the number of Man Group ordinary shares currently in issue.
This information is provided by RNS
The company news service from the London Stock Exchange
END
POSGGGPAUUPMPGR
(END) Dow Jones Newswires
October 19, 2017 02:00 ET (06:00 GMT)
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