Commencement of Share Buyback
Oxford Instruments commences £50m share buyback programme, to be completed by 24 June 2026.
- Buyback amount £50 million
- Maximum shares to be purchased 5,791,927
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Further to the announcement of 10 May 2025, Oxford Instruments plc (the “Company”), a leading provider of high technology products and systems for industry and research, announces that from today it will commence a programme to purchase up to £50 million of the Company's ordinary shares of 5 pence each (the "Ordinary Shares") (the "Programme") by no later than 24 June 2026.
The purpose of the Programme is to reduce the Company's share capital and accordingly the Company intends to cancel the Ordinary Shares purchased under the Programme however the Company may transfer some shares to Treasury to be used in relation to the Company’s employee share option plans.
The Programme will be conducted by the Company in accordance with and under the terms of the general authority granted by the Company's shareholders at the Company's Annual General Meeting on 25 July 2024, which authority will expire at the end of the next Annual General Meeting of the Company in 2025 or, if earlier, at the close of business on 30 September 2025 ("2024 Authority"). Purchases effected following the expiry of the 2024 Authority will be conditional on a similar shareholder authority being granted at the Company's annual general meeting to be held on 28 July 2025.
The Company has appointed its broker Numis Securities Limited ("Deutsche Numis") to manage the Programme and has issued an irrevocable instruction to Deutsche Numis to continue to manage the Programme, within pre-set parameters, during any closed period.
The Programme will be carried out on the London Stock Exchange and other trading venues1 and executed within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (as each forms part of domestic law under the European Union (Withdrawal) Act 2018, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019) and Chapter 9 of the UK Listing Rules of the Financial Conduct Authority.
The aggregate maximum consideration payable by the Company in respect of the purchase of shares under the Programme is £50 million. The maximum number of shares that may be purchased under the Programme is 5,791,927 (being the number of shares able to be purchased under the 2024 Authority).
1 Turquoise, Chi-X Europe and BATS Trading Europe.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.