Business
Share Buyback Programme – 26 July 2024
Share Buyback Programme – 26 July 2024.
About this update from Computacenter Plc
[{"type":"text","content":"\n\nComputacenter plc\nIncorporated in England\nRegistration number: 03110569\nLEI: 549300XSXUZ1I19DB105\nISIN: GB00BV9FP302\nComputacenter plc\n \nShare Buyback Programme - 26 July 2024\n \nComputacenter (\"the Company\") announces that, beginning on 26 July 2024, it is commencing a share buyback programme (\"the Programme\") to repurchase up to 11,414,110 of its ordinary shares (the Shares).\n \nThe maximum amount allocated to the Programme is £200 million, and the Company will make appropriate disclosures during the buyback period (which shall end on or before 30 June 2025) of the number of Shares it has repurchased. The sole purpose of the Programme is to reduce the Company's share capital.\n \nThis commencement of the Programme is in line with our capital allocation policy. Whilst the Company has received no indications at this stage, in line with the approach taken on previous returns of value, Directors may undertake disposals of shares during the course of the Programme.\n \nThe programme will be carried out through a non-discretionary agreement with J.P. Morgan Securities plc (\"J.P. Morgan\"), pursuant to which J.P. Morgan shall purchase ordinary shares as riskless principal (and not as agent of the Company) for the subsequent sale on to, and purchase by, the Company. J.P. Morgan will make its trading decisions in relation to the ordinary shares independently of, and uninfluenced by, the Company.\n \nThis arrangement is in accordance with Chapter 12 of the FCA Listing Rules and the Company's general authority to repurchase shares.\n \nThe Company currently holds 8,546,861 Shares as treasury shares (against the Investment Association's Share Capital Management Guidelines preference that a listed company does not hold more than 10 per cent. of its issued share capital in treasury). From the Shares to be purchased under the Programme, it is expected that no more than 2,867,249 Shares will be held in treasury, with the remaining Shares purchased under the Programme expected to be cancelled. The Ordinary Shares that are held in treasury will not rank for any future dividends and no voting rights will be exercised in respect of such Ordinary Shares.\nEnquiries:\n\n\n\n\n Computacenter plc\n\n\n \n\n\n\n\n Mike Norris, CEO\n\n\n+44 (0) 1707 631 601\n\n\n\n\n Chris Jehl...