Business
Launch of £100 million share buyback programme
Unite Group PLC has launched a £100 million share buyback programme, commencing today and running until 30 June 2026, to return surplus capital to shareholders. This initiative reflects confidence in the company's long-term prospects and strong balance sheet, with the initial tranche funded by deferred development activity. The programme aims to reduce issued share capital, with repurchased shares being cancelled, and will be conducted through open market transactions managed by Deutsche Bank and J.P. Morgan. The maximum number of shares that can be repurchased is 48,879,255. Disclaimer*
About this update from Unite Group Plc
[{"type":"text","content":"\n\nPRESS RELEASE\n9 January 2026\nTHE UNITE GROUP PLC\n('Unite Students', 'Unite', the 'Group', or the 'Company')\nLAUNCH OF £100 MILLION SHARE BUYBACK PROGRAMME\n \nUnite confirms that, as announced in today's Trading Update and Q4 Fund Valuations, the Board has approved the return of up to £100 million of surplus capital to shareholders through a share buyback programme of the Company's ordinary shares of 25 pence each (the 'Buyback Programme').\n \nThe Buyback Programme reflects confidence in Unite's long-term prospects and high-quality balance sheet. This initial tranche will be funded through surplus capital from deferred development activity. Further capital allocation will be kept under review as we progress with our target disposal programme of £300-400m p.a..\n \nThe Company has entered into non-discretionary arrangements with Deutsche Bank AG, London branch ('Deutsche Bank') and J.P. Morgan Securities plc ('JP Morgan') to conduct the Buyback Programme on its behalf. Deutsche Bank will conduct the first half of the Buyback Programme and JP Morgan will conduct the latter half. Under the arrangements, Deutsche Bank and JP Morgan will act as riskless principals and make trading decisions independently from the Company in accordance with certain pre-set parameters.\n \nThe purpose of the Buyback Programme is to reduce the Company's issued share capital. As such, all ordinary shares repurchased by the Company under the Buyback Programme will be cancelled. The Company has agreed that the Buyback Programme will commence today, 9 January 2026, and will run until the earlier of its completion or 30 June 2026.\n \nShare purchases under the Buyback Programme will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes. The Buyback Programme will be effected under the authority granted by shareholders at the Company's 2025 Annual General Meeting held on 15 May 2025 and, accordingly, the maximum number of shares that may be repurchased under the Buyback Programme is 48,879,255 ordinary shares.\n \nThe Buyback Programme will be conducted in accordance with the UK Market Abuse Regulation and the UK Listing Rules. The Company will make announcements and publish on its website details of any share repurchases un...