Business
Commencement of £20m Share Buyback Programme
Restore plc has commenced a share buyback programme of up to £20 million, as announced in its full-year results, with the intention of cancelling purchased ordinary shares to reduce share capital. The programme is divided into two tranches, with Investec Bank plc executing the first £10 million immediately and Canaccord Genuity Limited executing the subsequent £10 million, anticipated to conclude by 31 March 2027, subject to market conditions. The maximum number of shares that can be purchased is 13,692,406, based on shareholder authority granted at the 2025 AGM. Disclaimer*
About this update from Restore Plc
16 March 2026 Restore plc ("Restore" or the "Group" or the "Company") Commencement of £20m Share Buyback Programme Restore plc (AIM:RST), the UK's leading provider of secure and sustainable business services for data, information, communications and assets, today announces the commencement of a share buyback programme to purchase ordinary shares of 5 pence each in the Company ("Ordinary Shares") for up to £20 million (the "Buyback"), as announced in its full year results published on 12 March 2026. Any ordinary shares purchased by the Company will be cancelled and, accordingly, the Buyback will reduce the Company's share capital. Restore has instructed Investec Bank plc ("Investec") and Canaccord Genuity Limited ("Canaccord") to execute the Buyback. Restore has entered into a non-discretionary and irrevocable instruction with Investec and Canaccord, pursuant to which Investec will execute the first £10m of the Buyback (the "First Tranche") and Canaccord will execute the second £10m of the Buyback (the "Second Tranche"), each acting severally as riskless principal. The First Tranche will commence immediately. The Second Tranche will commence following completion of the First Tranche, and it is anticipated it will end no later than 31 March 2027, subject to market conditions. The maximum number of Ordinary Shares that can be purchased in aggregate under the First Tranche and Second Tranche is 13,692,406, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2025 annual general meeting (the "2025 AGM") and any subsequent authority. Investec and Canaccord will make their trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Company, within the terms and pre-set parameters of the Buyback. Any purchase of Ordinary Shares under the Buyback 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 will be effected under the general authority to repurchase Ordinary Shares granted by the Company's shareholders at the 2025 AGM (and subject to renewed authority at the Company's 12 May 2026 annual general meeting) and in accordance with Chapter 12 of the UK Financial Conduct Authority's Listing Rules, and Regulation (EU)...