Morgan Sindall Group plc
(“Morgan Sindall” or the “Company”)
Launch of £75 million Share Buyback
Morgan Sindall Group plc (“Morgan Sindall” or the “Company”) confirms that, as announced today in its trading update, the Board has approved a return of surplus capital to shareholders of up to a maximum aggregate amount of £75 million, to be implemented through a share buyback programme of the Company’s ordinary shares of 5 pence each (the “Buyback”).
Morgan Sindall has entered into an arrangement with each of Deutsche Bank AG, London branch (trading for these purposes as Deutsche Numis) (“Deutsche Numis”) and Merrill Lynch International (“BofA Securities”) to conduct the Buyback on its behalf during the period commencing today and ending no later than 4 November 2027, for an aggregate purchase price of up to £75 million (excluding stamp duty and expenses). Deutsche Numis will conduct the first half of the Buyback and BofA Securities will conduct the second half. Under the Buyback, Deutsche Numis and BofA Securities will each act as riskless principal and make trading decisions in accordance with certain pre-set parameters instructed by the Company from time to time, save that in the case of any purchases made during closed periods, each of Deutsche Numis and BofA Securities will make trading decisions in relation to the Buyback independently of the Company.
The maximum number of shares that can be purchased under the Buyback is 4,802,708 ordinary shares (provided that any purchases shall not exceed the amount that represents Morgan Sindall’s available general authority to purchase its own shares as granted by its shareholders at the Company’s 2026 Annual General Meeting held on 7 May 2026 or any subsequent general authority that may be granted by the Company’s shareholders).
The purpose of the Buyback is to reduce the Company’s share capital. As such, all ordinary shares repurchased by the Company under the Buyback will be cancelled. Share purchases under the Buyback will take place in open market transactions on the London Stock Exchange and may be made from time to time depending on market conditions, share price and trading volumes. The Buyback will be conducted in accordance with (and subject to the limits prescribed by) Morgan Sindall’s general authority to purchase its own shares as granted by its shareholders from time to time, Chapter 9 of the Financial Conduct Authority’s UK Listing Rules, Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018 and as amended from time to time) and Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018 and as amended from time to time). While the Company intends to renew its existing authority at its annual general meeting in 2027 in accordance with customary practice, the Buyback will be discontinued in the event that the Company ceases to have the necessary general authority to repurchase its own shares.
For further information, please contact:
Morgan Sindall Group plc
Lisa Minns, General Counsel & Company Secretary
Tel: +44 (0) 20 7307 9200
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