Business
Launch of Share Buyback via Reverse ABB
Naked Wines plc has launched a share buyback program via a Reverse Accelerated Bookbuild, aiming to repurchase ordinary shares up to a maximum aggregate consideration of £2 million. This initiative, similar to a £2 million buyback completed in September 2025, reflects the board's belief that shares are trading below their intrinsic value, intending to enhance shareholder value. The buyback, managed by Panmure Liberum, commences immediately and will close on December 22, 2025, with the final number of shares and purchase price to be determined at the close, not exceeding 7,400,413 shares. Any shares purchased will be held in treasury and will not carry voting rights. Disclaimer*
About this update from Naked Wines Plc
[{"type":"text","content":"\n\n22nd December 2025\n \nNaked Wines plc\n('Naked Wines' or the 'Company' or the 'Group')\n \nLaunch of Share Buyback via Reverse Accelerated Bookbuild\n \nNaked Wines is pleased to announce the launch of a share buyback via Reverse Accelerated Bookbuild (\"RABB Buyback\") to purchase ordinary shares of 7.5 pence each in the capital of the Group (\"Ordinary Shares\") up to a maximum aggregate consideration of £2 million (the \"Maximum Amount\"). This Buyback is in line with the Company's policy of ongoing distributions, and follows the £2m buyback completed in September 2025. It reflects the Board's view that shares will be purchased at prices well below their intrinsic value, thereby increasing intrinsic value per share for all remaining shareholders. \n \nNaked Wines has entered into an arrangement with Panmure Liberum Limited (\"Panmure Liberum\"), to conduct the RABB Buyback on its behalf starting from today, pursuant to which Panmure Liberum will purchase, as principal up to the Maximum Amount.\n \nThe RABB Buyback will commence immediately following this announcement and will be closed at 16:35 (BST) on 22nd December 2025 (or other such time as the Company and Panmure Liberum agree). The final number of Ordinary Shares to be purchased, together with the purchase price will be agreed at the close of the RABB Buyback at the sole discretion of the Company and Panmure Liberum, but no more than 7,400,413 Ordinary Shares as set out in the authority given at the 2025 AGM. The results of the RABB Buyback will be announced as soon as practicable thereafter. To the extent that the RABB Buyback is oversubscribed, orders will be scaled back (whether on a pro rata basis or otherwise) at the sole discretion of the Company and Panmure Liberum.\n \nIn line with the authority given at the 2025 AGM, the maximum price per Ordinary Share (exclusive of expenses) may not exceed the higher of 105 per cent of the average middle market quotations for an Ordinary Share, as derived from the London Stock Exchange Daily Official List, for the five business days immediately preceding the day on which the Ordinary Share is purchased; an amount equal to the higher of the price of the last independent trade of an ordinary share; and the highest current independent purchase bid for an ordinary share on the t...