Cancellation of Buyback Programme

Virgin Money UK PLC

02 April 2024

 

Virgin Money UK PLC

(Company or Virgin Money)

LEI number: 213800ZK9VGCYYR6O495

ISIN: GB00BD6GN030

2 April 2024

Cancellation of Buyback Programme

On 7 March 2024 Virgin Money announced that it was suspending the £150m buyback programme announced on 23 November 2023 (Buyback Programme), given the proposed acquisition of the Company by Nationwide Building Society (Nationwide). Following the subsequent update announced on 21 March 2024 that the boards of directors of Nationwide and the Company have agreed the terms of a recommended cash acquisition of the Company by Nationwide, the Company is today announcing the full cancellation of the remaining Buyback Programme with immediate effect.

Under the Buyback Programme, the Company returned c.£63 million to its shareholders, with the remaining c.£87 million fully deducted from its CET1 resources during Q1. As a result of today's announcement, the Company expects a CET1 ratio benefit at Q2.

This announcement does not constitute, or form part of, an offer or solicitation of an offer for securities in any jurisdiction.

Announcement authorised for release by Lorna McMillan, Group Company Secretary

For further information, please contact:

Investors and Analysts
Richard Smith	[phone]
Head of Investor Relations & Sustainability	[e-mail]
Amil Nathwani	[phone]
Senior Manager, Investor Relations	[e-mail]
Martin Pollard	[phone]
Senior Manager, Investor Relations	[e-mail]
Company Secretary
Lorna McMillan	07834 585436
Group Company Secretary	[e-mail]
Media Relations
Press Office	0800 066 5998
	[e-mail]

 

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