Commencement of Share Buyback Programme
Summary by AI BETAClose X
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN ANY JURISDICTION OR A SOLICITATION OF ANY VOTE OR APPROVAL.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
BARRATT REDROW PLC
(the "Company")
Commencement of Share Buyback Programme
15 July 2026
As separately announced today in its trading statement for the financial year ended 28 June 2026, the Company is commencing a share buyback programme to purchase ordinary shares of 10 pence each in the capital of the Company ("Shares") for up to a maximum consideration of £386,000,000 (excluding stamp duty and expenses) (the "Buyback").
The Buyback will commence immediately and will end no later than 2 July 2027.
The Company has entered into an agreement with Barclays Bank PLC, acting through its investment bank ("Barclays"), to manage the first tranche of the Buyback for a maximum consideration of up to £190,000,000 (excluding stamp duty and expenses). The first tranche of the Buyback will commence immediately and will end no later than market close on 31 December 2026. Barclays will carry out the acquisition of Shares (on a riskless principal basis) for subsequent repurchase by the Company in accordance with the Company's instructions. For the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.
In the case of any purchases made during closed periods, Barclays will make trading decisions in relation to the Buyback independently of the Company. Any purchase of Shares under the Buyback will be carried out during open and closed periods on the London Stock Exchange.
The purpose of the Buyback is to reduce the share capital of the Company. The Directors consider the Buyback to be in the best interests of the Company and of its shareholders generally.
Shares purchased under the Buyback will be cancelled.
Any purchases under the Buyback shall also take place in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase Shares granted by shareholders at the Company's Annual General Meeting held on 5 November 2025 (the "Existing Authority") and any subsequent authority; chapter 9 of the Financial Conduct Authority's Listing Rules; the Market Abuse Regulation (EU) No 596/2014 (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019); and the Commission Delegated Regulation (EU) No 2016/1052 (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019). While the Company intends to renew its Existing Authority at its annual general meeting in 2026 in accordance with customary practice, the Buyback will be discontinued in the event the Company ceases to have the necessary general authority to repurchase Shares.
The maximum number of Shares that the Company is authorised to purchase under the Existing Authority is 124,682,612 Shares.
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Barratt Redrow plc |
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John Messenger, Group Investor Relations Director |
07867 201 763 |
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Media enquiries |
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Tim Collins, Group Corporate Affairs Director |
01530 278 278 |
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Brunswick |
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Rosie Oddy |
020 7404 5959 |
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Barratt Redrow plc LEI: 2138006R85VEOF5YNK29 |
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