Business
Launch of £40 million Share Buyback Programme
Volex plc has announced a £40 million share buyback programme to reduce its share capital and return surplus capital to shareholders, with repurchased shares to be cancelled. The programme, managed by Peel Hunt LLP, will commence immediately and conclude by 31 March 2027, with purchases made on-market and subject to shareholder authority. The company's current authority allows for the purchase of up to approximately 10 per cent. of its share capital, representing 18,452,993 ordinary shares. Purchases may exceed 25 per cent. of average daily trading volume but will remain below 50 per cent. to ensure effective execution. Disclaimer*
About this update from Volex Plc
LEI: 213800HBLQNH5FXXGE63 7 April 2026 The information contained within this announcement is deemed to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The information is disclosed in accordance with the Company's obligations under Article 17 of UK MAR. Upon publication of this announcement, this inside information is considered to be in the public domain. Volex plc ("Volex", the "Company", or the "Group") Launch of £40 million Share Buyback Programme Volex plc (AIM: VLX), the specialist integrated manufacturer of critical power and data transmission products, announces the launch of an on-market share buyback programme to purchase its ordinary shares of 25 pence each (the "Ordinary Shares") up to an aggregate value of £40 million (the "Share Buyback Programme"). The purpose of the Share Buyback Programme is to reduce the Company's share capital and return surplus capital to the Company's shareholders. All Ordinary Shares repurchased by the Company pursuant to the Share Buyback Programme will be cancelled. The Board regularly reviews the Group's cash performance, ongoing capital requirements and approach to capital allocation, and considers the Share Buyback Programme to be in the best interests of the Company and its shareholders, providing a further means of returning surplus capital, whilst maintaining the financial flexibility to continue to invest in the Group's strategy. The Company has entered into an agreement with Peel Hunt LLP ("Peel Hunt") to conduct the Share Buyback Programme on its behalf and carry out on-market purchases of Ordinary Shares (the "Agreement"). The Share Buyback Programme will commence immediately and will end no later than 31 March 2027. Any purchases of Ordinary Shares pursuant to the Share Buyback Programme will be carried out in accordance with certain pre-set parameters set out in the Agreement. Peel Hunt will make trading decisions in relation to the Share Buyback Programme independently of the Company. Under the Agreement, the Company has issued non-discretionary instructions to Peel Hunt to manage the Share Buyback Programme in order that purchases of Ordinary Shares can continue during closed periods, and should the C...