3 March 2025
Severfield plc
('Severfield' or 'the Company')
Share buyback programme cancellation
As noted in this morning's trading update announcement, Severfield plc, the market-leading structural steel group, announces that, with effect from 3 March 2025, it has terminated the agreement entered into with Liberum in respect of £10m share buyback programme announced on 17 April 2024 thereby cancelling the buyback programme.
In aggregate, between 17 April 2024 and 28 February 2025, the Company repurchased and cancelled 13,356,334 ordinary shares at a cost of £9,262,581 (excluding stamp duty and expenses).
Severfield's current issued share capital is 296,181,987 ordinary shares. Accordingly, the total number of voting rights in Severfield as at 28 February 2025 is 296,181,987. This figure may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Severfield Alan Dunsmore 01845 577 896
Chief Executive Officer
Adam Semple 01845 577 896
Chief Financial Officer
Jefferies International Will Soutar 020 7029 8000
Panmure Liberum Nicholas How 020 3100 2000
Camarco severfield@camarco.co.uk
Ginny Pulbrook 07961 315 138
Tom Huddart 07967 521 573
Notes:
Except as otherwise stated '2025 and FY25', '2026 and FY26' and '2027 and FY27' refer to the 52-week periods ending 29 March 2025, 28 March 2026 and 27 March 2027. The Group's accounts are made up to an appropriate weekend date around 31 March each year.
Notes to editors:
Severfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of c.150,000 tonnes of steel per annum. The Group has seven sites, c.1,900 employees and expertise in large, complex projects across a broad range of sectors. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel (India's largest steel producer).