Launch of share buyback programme
Macfarlane Group PLC has announced a new share buyback programme valued at up to £6 million, to be conducted over 12 months in four quarterly tranches of £1.5 million each, commencing today, October 1, 2026, and concluding by September 30, 2027. This programme follows the successful completion of a previous £4 million buyback. The company has granted authority to Shore Capital Stockbrokers Limited to execute these purchases, with repurchased shares intended for cancellation, thereby reducing the company's share capital. Purchases will adhere to regulatory guidelines, including the Market Abuse Regulation.
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As noted in Macfarlane's interim results on 27 August 2026, Macfarlane Group PLC (LSE: MACF), the protective packaging specialist, announces its intention to commence a share buyback programme over a period of 12 months with an aggregate value of up to £6 million ("the Programme"). The Programme will be completed in four quarterly tranches, each with an aggregate value of up to £1.5 million ("Quarterly Tranche").
On 12 May 2026 at the Company's Annual General Meeting the shareholders granted general authority (the "2026 General Authority") for the Company to make market purchases of existing ordinary shares of 25 pence each in the capital of the Company ("Ordinary Shares") up to 15,683,649 Ordinary Shares. Under the previous £4 million share buyback programme completed on 9 September 2026, Macfarlane bought back and cancelled 5,008,082 Ordinary Shares, of which 1,508,573 Ordinary Shares were bought back and cancelled under the 2026 General Authority. As such, under the 2026 General Authority, the maximum number of Ordinary Shares which can be purchased is 14,175,076.
The Programme will commence today, Thursday 1 October 2026 and will end no later than close of trading on 30 September 2027. A continuation of the Programme beyond the conclusion of the Company's next annual general meeting (or, if earlier, the close of trading on 30 September 2027) will be subject to, inter alia, the Board's consideration of the Company's capital allocation policy, and the Company obtaining fresh general authority from its shareholders at such annual general meeting.
The Company has entered into non-discretionary instructions with Shore Capital Stockbrokers Limited to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company.
The maximum price paid per Ordinary Share (exclusive of expenses) will be no more than the higher of: (i) 5% above the average of the middle market quotations taken from the London Stock Exchange Daily Official List for the five business days preceding any Ordinary Shares being purchased; and (ii) the higher of the price of the last independent trade and the highest independent bid for Ordinary Shares on the trading venue where the purchase is carried out. The minimum price shall be no less than a price of 25 pence per Ordinary Share (exclusive of expenses), being the nominal value of an Ordinary Share.
Taking into account the Company's capital allocation policy, the Company shall be entitled for the duration of the Programme to instruct Shore Capital to suspend or terminate purchases of Ordinary Shares by Shore Capital pursuant to the Programme.
Any market purchase of Ordinary Shares pursuant to the Programme will be announced in accordance with applicable rules and regulations.
596/2014, which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. The Company confirms that it currently has no other unpublished price sensitive information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.