Commencement of buy-back
Summary by AI BETAClose X
22 June 2026
BAE Systems plc
Commencement of buy-back
BAE Systems plc (the "Company") announces that it has entered into arrangements with J.P. Morgan Securities plc ("JPMS plc") in relation to the third tranche (the "Third Tranche") of the three-year up to £1.5bn share buy-back programme announced on 2 August 2023 (the "Buy-back Programme").
The Company has instructed JPMS plc, acting as riskless principal, to carry out on-market purchases of ordinary shares of 2.5 pence each in the Company ("Ordinary Shares") for up to a maximum consideration of £500m. The Third Tranche of the Buy-back Programme is expected to be completed by 30 June 2027.
The purpose of the Buy-back Programme is to reduce the share capital of the Company and therefore Ordinary Shares purchased under the Third Tranche of the Buy-back Programme will be cancelled.
Any purchases of Ordinary Shares under the Third Tranche of the Buy-back Programme will be effected within certain pre-set parameters and in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase Ordinary Shares granted by its shareholders at the annual general meeting on 7 May 2026 (the "2026 Authority"), the applicable UK 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 Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended), and other applicable laws.
The maximum number of Ordinary Shares that may be repurchased under the Third Tranche of the Buy-back Programme will be such number as is equal to the number of Ordinary Shares the Company is authorised to repurchase under the 2026 Authority (299,879,360 Ordinary Shares).
- ENDS -
For further information, please contact:
Investors Media
Paul Checketts Kristina Anderson
Investor Relations Director Director, Media Relations
Telephone: +44 (0) 3300 46 6802 Telephone: +44 (0) 7540 628673
Email: investors@baesystems.com Email: Kristina.anderson@baesystems.com
Legal Entity Identifier (LEI): 8SVCSVKSGDWMW2QHOH83
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