Result of General Meeting

Future PLC

03 August 2023

 

For immediate release

3 August 2023

Future plc

("Future" or the "Company")

Result of General Meeting

The Board is pleased to note that the special resolution to give authority for an on-market share buyback programme (the Share Buyback Authority) was passed with the requisite majority of votes.

The results of votes cast by proxy for the resolution were as follows:

Resolution	Votes for	%	Votes against	%	Total votes	% of ISC* voted	Votes withheld
1	102,833,633	99.99%	5,474	0.01%	102,839,107	85.09%	261,102

* Issued share capital

Notes:

1.     As at the date of the General Meeting, the Company had 120,860,223 ordinary shares in issue. The Company did not hold any shares in treasury and therefore the number of total voting rights as at the date of the General Meeting was 120,860,223 . 

2.     The full text of the resolution is set out in the notice of general meeting, which can be found on page 4 of the Circular.

3.     Percentages are expressed as a proportion of the total votes cast.

4.     A vote withheld is not a vote in law and is not included in the calculation of the votes "For" or "Against" the resolution.

5.     Any proxy appointments which gave discretion to the Chair have been included in the "For" total.

Commencement of Share Buyback Programme

Future plc (LSE: FUTR) the global platform for intent-led specialist media, is

pleased to announce that, further to its announcements on 10 July and 19 July 2023, in respect of a proposal to return up to £45 million of cash to its shareholders, through the means of an on-market share buyback programme (the Share Buyback Programme), Future intends to commence the Share Buyback Programme from tomorrow, 4 August 2023 and, if necessary, to continue it until 30 May 2024.

The Programme will operate under the Share Buyback Authority granted at the general meeting held today, 3 August 2023, (the General Meeting) and within the regulatory limit on the quantity of shares the Company may purchase on any single day.

In order to implement the Share Buyback Programme, the Company has entered into an irrevocable, non-discretionary agreement with Numis Securities Limited

(Numis) to conduct the Share Buyback Programme on its behalf and carry out

on-market purchases of ordinary shares of 15p each in the capital of the Company (Ordinary Shares), acting as riskless principal, and to on-sell such Ordinary Shares to the Company.  The Company intends to cancel the Ordinary Shares it purchases through the Share Buyback Programme.  Numis will make trading decisions in relation to the Share Buyback Programme independently of the Company.  Any purchases of Ordinary Shares under the Share Buyback Programme will be carried out on the London Stock Exchange and/or other recognised investment exchanges in accordance with certain pre-set parameters set out in the agreement with Numis and in accordance with (and subject to the limits prescribed by) the Share Buyback Authority, Chapter 12 of the Financial Conduct Authority's Listing Rules, Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the Withdrawal Act)), the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of domestic law by virtue of the Withdrawal Act) and other applicable laws. No repurchases of Ordinary Shares under the Share Buyback Programme will be made in or into the United States.

Future will announce any market repurchase of Ordinary Shares no later than

7.30 a.m. on the business day following the calendar day on which the repurchase

occurred.

Enquiries

Future plc

Jon Steinberg, Chief Executive Officer                           [phone]

Penny Ladkin-Brand, Chief Financial Officer

Marion Le Bot, Head of Investor Relations                     [phone]

Media

Headland                                                                          [phone]

Stephen Malthouse, Rob Walker, Charlie Twigg

[e-mail]

Legal Entity Identifier (LEI): 213800K2581YRLEXV353

About Future

Future is a digital-first global platform for intent-led specialist media. Underpinned by leading technology and enabled by data, we operate c.250 brands in diversified content verticals, across our B2C and B2B divisions with multiple market leading positions and three core monetisation frameworks: advertising, eCommerce affiliate and direct consumer monetisation. We organise our brands by specialist interest and have four main content verticals with 16 subcategories ranging from Consumer Technology and Home to Wealth and Women's Lifestyle. Our content is published and distributed through a range of formats including websites, email newsletters, videos, magazines and live events. The successful execution of our strategy is focused on three pillars: organic growth, the platform effect and value-creating M&A.

 

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