Commencement of Share Buyback Programme
Greencoat Renewables commences €25 million share buyback programme, with €100 million planned over 12 months.
- Initial buyback tranche €25 million
- Total planned buyback over 12 months €100 million
- Maximum shares authorised for repurchase 166,918,897 shares (14.99% of issued capital)
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| Dublin, London, Johannesburg | 5 March 2026: Greencoat Renewables PLC ("Greencoat Renewables" or the "Company") announces that it will commence an initial tranche of its share buyback programme today, to repurchase ordinary shares of the Company (the "Shares") up to a maximum aggregate consideration of €25 million (the "Programme"). |
The initial €25m share buyback is being carried out as part of the Company's updated capital allocation strategy, announced today, 5 March 2026. The Company intends to repurchase €100m of the Company's Shares over the next 12 months, with the potential to further increase the Programme in the future, subject to market conditions if a significant discount to NAV persists.
Details of the Programme
The Company has entered into an agreement with J&E Davy ("Davy") and RBC Europe Limited ("RBC") to act as principals to conduct the Programme and to purchase Shares on Euronext Dublin for subsequent repurchase by the Company for a maximum aggregate consideration of up to €25 million and to make trading decisions under the Programme in accordance with certain pre-set parameters. Under the terms of the agreement, Davy and RBC will make purchases of the Shares under the Programme independently of, and uninfluenced by, the Company.
The Programme will commence on 5 March 2026, and end no later than 30 September 2026, subject to market conditions. The purpose of the Programme is to reduce the share capital of the Company in line with this announcement. Under the terms of the Programme, the Shares will be repurchased on Euronext Dublin and will subsequently be cancelled.
The Programme will be conducted in accordance with:
- the Company's general authority to repurchase shares (which authorises the repurchase of a maximum of 166,918,897 shares, being 14.99% of the issued share capital of the Company), as approved by shareholders at the Company's AGM held on 15 May 2025; and
There is no guarantee that the Programme will be implemented in full or that any Shares will be bought back by the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.