Business
Share buyback programme of up to $250 million
Share buyback programme of up to $250 million.
About this update from Man Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8966U\n Man Group plc\n 08 December 2021\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n SHARE BUYBACK PROGRAMME OF UP TO $\n \n \n 250\n \n \n \n MILLION\n \n \n \n \n \n \n Man Group plc (the \"Company\") today announces that it intends to buy back shares up to a value of $250 million. The Company will now commence the first tranche with a new share buyback programme of up to $125 million (the \"Share Buyback Programme\").\n \n \n \n \n \n The Share Buyback Programme is in line with the Company's policy to distribute capital to shareholders while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities. It will run from 8 December 2021 through to 7 December 2022. Purchases may continue during any closed period to which the Company is subject.\n \n \n \n \n \n The maximum number of shares that may be repurchased under the Share Buyback Programme is 96,009,523 shares, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2021 Annual General Meeting (\"AGM\") less the number of shares that have already been repurchased pursuant to that authority1.\n \n \n \n \n \n The purpose of the Share Buyback Programme is to reduce the share capital of the Company (any shares repurchased for this purpose will be cancelled) and to enable the Company to meet obligations arising from employee share option programmes, or other allocations of shares to employees of the Company or to members of the administrative, management or supervisory bodies of the Company, or an associate of the Company (any shares repurchased for this purpose will be held in treasury).\n \n \n \n \n \n Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. The Company has appointed J.P. Morgan Securities plc to manage an irrevocable, non-discretionary share buyback programme to repurchase the Company's shares on its behalf, and within certain parameters.\n \n \n \n \n \n...