Commencement of Share Buyback Programme
Playtech commences buyback of up to 5.66m shares to transfer to Employee Benefit Trust.
- Maximum shares to be purchased 5,661,665 Ordinary Shares
- Shares already purchased since May 2025 25,267,759 Ordinary Shares
- Total authority approved 30,929,424 shares
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Playtech plc (LSE: PTEC) today announces that it will commence a programme to purchase the Company's ordinary shares (the 'Ordinary Shares') of up to, in aggregate, 5,661,665 Ordinary Shares (the 'Programme'). The Programme will be completed in the period up to the next Annual General Meeting of the Company which is expected to be held towards the end of May 2026 (the "2026 AGM").
All of the Ordinary Shares purchased pursuant to the Programme are being transferred to the Company's Employee Benefit Trust for nil consideration, with a view to the shares being used to fund future awards (as and when they vest and are exercised) under the Company's employee share schemes. Therefore, the total number of shares in issue and the total number of voting rights in the Company, following purchases within the Programme, are expected to remain the same.
Any purchases will be conducted in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The Company confirms that it currently has no unpublished inside information.
The Programme will be conducted in accordance with and under the terms of the general authority to purchase (the "Existing Buyback Authority") up to 30,929,424 shares approved by the Company's shareholders at the Company's Annual General Meeting on 21 May 2025 (the "2025 AGM") which authority will expire at the end of the 2026 AGM. As a result of the purchase of 25,267,759 Ordinary Shares already made by the Company since the 2025 AGM, 5,661,665 Ordinary Shares represents the maximum balance available for purchase by the Company under the Existing Buyback Authority.
The Company has entered into an irrevocable commitment with its joint broker, Jefferies International Limited ('Jefferies') to operate the Programme through a non-discretionary programme, by making market purchases of Ordinary Shares as agent on the Company's behalf, and within certain defined parameters. Jefferies will make trading decisions in relation to the buyback of Ordinary Shares independently of the Company within the Programme terms. Jefferies will operate the Programme from today.
The Programme will be carried out on the London Stock Exchange and other trading venues 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.
Details of all purchases made under the Programme will be announced by no later than 7:30am on the next business day following the calendar day on which the purchases occurred.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.