Business
Convatec commences share buyback programme
Convatec Group PLC announced a share buyback program on August 20, 2025, to return up to $300 million to shareholders. The program, which runs until December 31, 2025, may be extended. UBS AG London Branch will execute the buyback, purchasing up to 204,978,956 ordinary shares. Shares acquired will be cancelled, with some held in treasury to fulfill employee share plan awards. The program aims to reduce Convatec's share capital. Disclaimer*
About this update from Convatec Group Plc
[{"type":"text","content":"\n\n \nThis announcement contains inside information\n \nConvatec Group Plc\n \nConvatec commences share buyback programme\n \nLondon, UK, 20 August 2025: Convatec announces a non-discretionary share buyback programme (the \"Programme\") to return up to $300 million of surplus capital to shareholders. This is in accordance with Convatec's disciplined approach to capital allocation and previously stated policy. It follows confirmation of full year guidance with Convatec's interim results, together with a refresh of cash flow needs for the second half of the year. The Programme will commence immediately and run up to 31 December 2025. The Programme may be extended by further notification.\n \nConvatec has entered into an agreement with UBS AG London Branch (\"UBS\") to conduct the Programme on its behalf and to make independent trading decisions within certain pre-set parameters.\n \nAny Share purchases will be made in accordance with (i) the general authority of the Company to repurchase shares granted by shareholders at the Company's Annual General Meeting held on 22 May 2025; (ii) the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (both as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018); and (iii) Chapter 9 of the Financial Conduct Authority's UK Listing Rules. Up to 204,978,956 ordinary shares of 10 pence each in the Company (the \"Shares\") may be acquired as part of the Programme for a maximum aggregate consideration of $300 million. There is no guarantee that the programme will be implemented in full. The purpose of the Pro...