Commencement of Share Buyback Programme
Summary by AI BETAClose X
For Immediate Release 24 October 2025
CVS GROUP plc
("CVS" or the "Company" and, together with its subsidiaries, the "Group")
Commencement of Share Buyback Programme
CVS, the UK listed veterinary group and a leading provider of veterinary services, announces that it will commence a share buyback programme today to purchase ordinary shares of 0.2 pence each ("Ordinary Shares") and has allocated up to £20 million to the buyback programme (the "Share Buyback Programme").
The purpose of the Share Buyback Programme is to both return surplus capital to shareholders and reduce the Group's share capital pursuant to its capital allocation policy. As such, all Ordinary Shares repurchased by the Group under the Share Buyback Programme will be cancelled.
CVS has entered into an agreement with Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") to purchase Ordinary Shares up to a maximum aggregate consideration (excluding expenses) of up to £20 million under the Share Buyback Programme. Berenberg will act as riskless principle and manage the purchases on a non-discretionary basis, purchasing shares within certain pre-set parameters and making its trading decisions independently of the Company.
The purchase of Ordinary Shares will be carried out on the London Stock Exchange and other trading venues. Any purchases of Ordinary Shares by the Company will be conducted in accordance with the general authority to purchase Ordinary Shares granted by its shareholders at the Company's Annual General Meeting on 20 November 2024 (the "2024 Authority", or as subsequently granted to the Directors at its Annual General Meeting in 2025). The Share Buyback Programme will be conducted in accordance with Chapter 9 of the Financial Conduct Authority's Listing Rules and with European Union (EU) Regulation No 596/2014 ("MAR") and the MAR buyback technical standards (Commission Delegated Regulation (EU) 2016/1052) (the "Technical Standards"), both of which form part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018.
CVS will announce any market repurchases of Ordinary Shares no later than 7.30 a.m. (UK time) on the business day following the date the repurchase occurred.
The Share Buyback Programme is expected to be completed in Q1 of calendar year 2026.
Contacts
CVS Group plc via Camarco
Richard Fairman, CEO
Robin Alfonso, CFO
Paul Higgs, Chief Veterinary Officer
Charlotte Page, Head of Investor Relations
Peel Hunt LLP (Nominated Adviser & Joint Broker) +44 (0)20 7418 8900
Christopher Golden / James Steel / Andrew Clark
Berenberg (Joint Broker) +44 (0)20 3207 7800
Toby Flaux / Michael Burke / Milo Bonser / Brooke Harris-Lowing
Camarco (Financial PR) cvsg@camarco.co.uk
Ginny Pulbrook +44 (0)7961 315 138
Letaba Rimell
Tilly Butcher
About CVS Group plc (www.cvsukltd.co.uk)
CVS Group is an AIM-listed provider of veterinary services with operations in the UK and Australia. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy.
The Group now operates c.470 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business ("Animed Direct").
The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund