Convatec commences share buyback programme
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This announcement contains inside information
Convatec Group Plc
Convatec commences share buyback programme
London, UK, 20 August 2025: Convatec announces a non-discretionary share buyback programme (the "Programme") to return up to $300 million of surplus capital to shareholders. This is in accordance with Convatec's disciplined approach to capital allocation and previously stated policy. It follows confirmation of full year guidance with Convatec's interim results, together with a refresh of cash flow needs for the second half of the year. The Programme will commence immediately and run up to 31 December 2025. The Programme may be extended by further notification.
Convatec has entered into an agreement with UBS AG London Branch ("UBS") to conduct the Programme on its behalf and to make independent trading decisions within certain pre-set parameters.
Any Share purchases will be made in accordance with (i) the general authority of the Company to repurchase shares granted by shareholders at the Company's Annual General Meeting held on 22 May 2025; (ii) the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (both as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018); and (iii) Chapter 9 of the Financial Conduct Authority's UK Listing Rules. Up to 204,978,956 ordinary shares of 10 pence each in the Company (the "Shares") may be acquired as part of the Programme for a maximum aggregate consideration of $300 million. There is no guarantee that the programme will be implemented in full. The purpose of the Programme is to reduce Convatec's share capital. Shares acquired by UBS will be sold on to the Company and will, to the extent required to satisfy share awards under the Company's employee share plans, be held in treasury, and the remainder will be cancelled.
Contacts
The person responsible for making this announcement is James Kerton, Company Secretary, Convatec Group Plc: cosec@convatec.com
Media: MediaRelations@convatec.com
Investor Relations: IR@convatec.com
About Convatec
Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in Advanced Wound Care, Ostomy Care, Continence Care, and Infusion Care. With more than 10,000 colleagues, we provide our products and services in around 90 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. Convatec's revenues in 2024 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more please visit http://www.convatecgroup.com
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