Statement re Launch of Share Buyback Programme
Next 15 has launched a share buyback programme to repurchase up to £5.0 million of ordinary shares (nominal 2.5p), representing up to 10,102,894 shares, under an independent non-discretionary execution agreement with Deutsche Bank (London) that will commence 11 November 2026 and run until the earlier of £5.0 million spent, the 10,102,894-share limit, or 31 January 2027; repurchased shares will be held in treasury and the Board will review progress against capital allocation needs. Purchases will be made within preset parameters in accordance with AIM and UK MAR rules and the programme may be suspended or terminated outside closed periods.
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Launch of Share Buyback Programme
On 5 November 2026, in its announcement detailing the disposal of Marker Collective, Next 15 announced its intention to launch a share buyback programme of up to £5 million (the "Share Buyback Programme").
Next 15 announces that, pursuant to the Share Buyback Programme, it has entered into a non-discretionary agreement with Deutsche Bank AG, London Branch (“Deutsche Numis”) to purchase up to £5 million of the Company's ordinary shares of 2.5 pence each (the "Shares") and to make trading decisions under the Share Buyback Programme independently of the Company in accordance with certain pre-set parameters. The Share Buyback Programme will commence today. From time to time, the Board will assess the progress of this Share Buyback Programme in light of the Company's capital allocation needs.
The maximum number of Shares that may be repurchased under the Share Buyback Programme is 10,102,894 Shares, being the maximum number of Shares that may be purchased under the authority granted by shareholders at the Company's annual general meeting held on 8 July 2026. The Share Buyback Programme will end on the earlier of the date on which £5 million has been spent, the date on which the maximum number of Shares has been repurchased and 31 January 2027. Other than during any closed period, the Company may suspend or terminate the Share Buyback Programme at any time, subject to the terms of its agreement with Deutsche Numis.
The purpose of the Share Buyback Programme is to reduce the share capital of the Company. The Company will hold as treasury shares any Shares repurchased in accordance with the provisions of the Companies Act 2006.
Any purchases of Shares will be carried out within certain pre-set parameters and in accordance with the Company's existing general authority to repurchase Shares, the AIM Rules for Companies, Article 5 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended) (“UK MAR”), and Commission Delegated Regulation (EU) 2016/1052 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended). During any closed periods, the Company and its directors will have no power to make any changes to the Share Buyback Programme, which will be executed at the sole discretion of Deutsche Numis.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.