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Ashtead Group Plc
Ashtead Group Plc - Launches new share buyback programme
11th December 2024, 07:00
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11 December 2024

Ashtead Group plc

Launches new share buyback programme of up to USD 1.5 billion

Pursuant to the disclosure by Ashtead Group plc (the "Company") in the second
quarter results announcement on 10 December concerning the launch of a new share
buyback programme of up to $1.5bn over 18 months, Ashtead Group plc (the
"Company") announces that it has entered into an arrangement with Barclays Bank
PLC, acting through its Investment Bank ("Barclays"). The arrangement allows
Barclays to purchase, together with any other ordinary shares in the Company
(the "Shares") purchased on the Company's behalf pursuant to this buyback
programme, up to (a) in accordance with the terms of the Company's current
buyback authority granted by shareholder resolution dated 4 September 2024,
65,551,091 Shares up to and including the date of the next AGM; and (b)
following the expiry of such current buyback authority, the aggregate number of
Shares authorised to be purchased by the Company under any subsequent buyback
authority granted during the arrangement (which in any event shall be less than
15% of the relevant class of the Company's equity shares at the date of such
authority). These share purchases will be made by Barclays acting as riskless
principal and in accordance with the arrangement, and they shall be made
independently of and uninfluenced by the Company.

Any share purchases effected pursuant to the arrangement will be subject to the
terms of the arrangement with Barclays and in any case will be effected in a
manner consistent with both the general authority vested in the Company to
repurchase shares and the United Kingdom Listing Rules, which require that the
maximum price paid be limited to be no more than the lower of (i) 105 per cent
of the average middle market closing price of the Company's ordinary shares for
the five business days before the purchase is made, and (ii) the higher of the
price of the last independent trade and the highest current independent bid on
the trading venue where the purchase is carried out.

Following the purchase of the Shares, they will be placed into treasury. The
sole purpose of these share purchases is to reduce the Company's share capital.

Further enquiries:

Will Shaw       Ashtead Group plc    +44 (0)20 7726 9700
Sam Cartwright  H/Advisors Maitland  +44 (0)20 7379 5151

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

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