Launch of £100 million share buyback programme
FirstGroup launches £100 million on-market share buyback programme to run until June 2027.
- Buyback programme size £100 million
- Maximum shares to be repurchased 84,323,374 shares
- Percentage of issued share capital 14.99%
- Programme duration From 19 June 2026 to 17 June 2027
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Launch of
£100 million
share buyback programme
Earlier today, FirstGroup plc (
“FirstGroup”
or the
“Group”
) announced an on-market share buyback programme to purchase up to £100m of ordinary shares of 5p (the
“£100m Programme”
).
The £100m Programme will commence tomorrow and is anticipated to end no later than 17 June 2027, subject to market conditions.
Notwithstanding the authority granted at its AGM on 25 July 2025, and recognising the buyback programme undertaken between 10 June 2025 and 2 October 2025, the Group confirms the £100m Programme will be limited to 84,323,374 being 14.99% of the Company’s issued share capital on today’s date.
The Group has entered into a non-discretionary arrangement with Panmure Liberum Limited (
“Panmure Liberum”
) and RBC Europe Limited (
“RBC”
) which will enable the purchase of ordinary shares for the £100m Programme to continue through close periods.
The £100m Programme will be undertaken in four tranches of up to £25m, with RBC undertaking the first and third tranche and Panmure Liberum undertaking the second and fourth tranche, both acting severally as riskless principal.
Each tranche will commence following completion of the previous tranche.
The sole purpose of the £100m Programme is to reduce the issued share capital of the Group and therefore the repurchased shares will initially be held in Treasury, before being cancelled at a later date.
Treasury shares are not entitled to dividends and have no voting rights at general meetings.
Any purchase of Ordinary Shares pursuant to the £100m Programme will be announced no later than the end of the seventh daily market session following execution.
The £100m Programme will be conducted within certain pre-set parameters including those prescribed by the Market Abuse Regulation 596/2014 (as it forms part of domestic law) and Chapter 9 of the Listing Rules.
Contacts at FirstGroup: David Blizzard General Counsel and Company Secretary Marianna Bowes, Head of Investor Relations Tel: +44 (0) 20 7725 3354
| Contacts at Panmure Liberum Limited: Nicholas How / Satbir Kler Tel: +44 (0) 20 3100 2000 | Contacts at RBC Europe Limited: James Agnew / Elliot Thomas Tel: +44 (0) 20 7653 4000 |
Notes
Classification as per DTR 6 Annex 1R: 2.4.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.