FGP.L

FirstGroup Plc
FirstGroup Plc - Launch of £50 million share buyback programme
14th November 2024, 12:17
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14 November 2024

FirstGroup plc

Launch of£50 millionshare buyback programme

Earlier today, FirstGroup plc ("FirstGroup" or the "Group") announced an on
-market share buyback programme to purchase up to £50m of ordinary shares of 5p
(the "£50m Programme").

The £50m Programme will commence tomorrow and it is anticipated that it will end
no later than 13 November 2025, subject to market conditions.  Notwithstanding
the authority granted at its AGM on 26 July 2024, the Group confirms the £50m
Programme will be limited to 92,258,761 shares, being 14.99% of the Group's
current issued share capital.

The Group has entered into a non-discretionary arrangement with Panmure Liberum
Limited ("Panmure Liberum") and RBC Europe Limited ("RBC") which will enable the
purchase of ordinary shares for the £50m Programme to continue through close
periods.

The £50m Programme will be undertaken in two tranches of up to £25m, with RBC
undertaking the first tranche and Panmure Liberum undertaking the second
tranche, both acting severally as riskless principal.  The second tranche will
commence following completion of the first tranche.

The sole purpose of the £50m Programme is to reduce the issued share capital of
the Group and therefore the repurchased shares will initially be held in
Treasury, before being cancelled at a later date. Treasury shares are not
entitled to dividends and have no voting rights at general meetings.

Any purchase of Ordinary Shares pursuant to the £50m Programme will be announced
no later than 7:30 a.m. on the business day following the day on which the
purchase occurs.

The £50m Programme will be conducted within certain pre-set parameters including
those prescribed by the Market Abuse Regulation 596/2014 (as it forms part of
domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018
(as amended)) and Chapter 9 of the Listing Rules.

Contacts at FirstGroup:
David Blizzard, Company Secretary

Marianna Bowes, Head of Investor Relations
Tel: +44 (0) 20 7725 3354
Contacts at Liberum Capital Limited:        Contacts at RBC Europe Limited:
Nicholas How / John Fishley                 James Agnew / Jack Wood
Tel: +44 (0) 20 3100 2000                   Tel: +44 (0) 20 7653 4000

Forward-looking statements

Certain statements included or incorporated by reference within this
announcement may constitute 'forward-looking statements' with respect to the
business, strategy and plans of the Group and our current goals, assumptions and
expectations relating to our future financial condition, performance and
results. By their nature, forward-looking statements involve known and unknown
risks, assumptions, uncertainties and other factors that cause actual results,
performance or achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by such forward
-looking statements. No statement in this announcement should be construed as a
profit forecast for any period. Shareholders are cautioned not to place undue
reliance on the forward-looking statements. Except as required by the UK Listing
Rules and applicable law, the Group does not undertake any obligation to update
or change any forward-looking statements to reflect events occurring after the
date of this announcement.

Notes

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 6
Annex 1R: 2.4.

This information was brought to you by Cision http://news.cision.com

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