Launch of £100 million Share Buyback Programme
27 May 2025
Launch of £100 Million Share Buyback Programme
DCC plc ("DCC" or the "Company") announces that it will commence a Share Buyback Programme today, 27 May 2025, to repurchase ordinary shares of the Company (the "Shares") up to a maximum aggregate consideration of GBP £100 million (the "Programme"). The Programme forms part of the Company's intention to return GBP £800 million of capital from the sale of DCC Healthcare to shareholders which was announced as part of the Company's Full Year Results Announcement on 13 May 2025.
Details of the programme
The Company has entered into agreements with J&E Davy and UBS AG London Branch ("Banks") to act as principal to conduct the Programme and to repurchase Shares on the Company's behalf for a maximum aggregate consideration of up to GBP £100 million and to make trading decisions under the Programme in accordance with certain pre-set parameters. Under the terms of the agreements, the Banks will make purchases of the Shares under the Programme independently of, and uninfluenced by, the Company.
The Programme will commence on 27 May 2025, and end no later than 30 September 2025, subject to market conditions. The purpose of the Programme is to reduce the share capital of the Company in line with this announcement. Under the terms of the Programme, the Shares will be repurchased on the London Stock Exchange and will be cancelled. The Programme will be conducted in accordance with:
(i) the Company's general authority to repurchase shares (which authorises the repurchase of up to 10% of the issued share capital of the Company), as approved by shareholders at the Company's AGM held on 11 July 2024 (and as such authority may be renewed, extended or replaced) (the "Authority"); and
(ii) the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052 (including as each of them forms part of retained EU law in the United Kingdom ("UK") from time to time, including, where relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as the applicable laws and regulations of the UK Financial Conduct Authority.
Details of any Shares repurchased under the Share Buyback Programme will be notified to a Regulatory Information Service by the Company following repurchase. Purchases may continue under the Programme during any closed period to which the Company is subject. The Company confirms that it currently has no unpublished inside information.
There is no guarantee that the Programme will be implemented in full or that any Shares will be bought back by the Company.
Contact information
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Investor enquiries:
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Kevin Lucey, Chief Financial Officer |
Tel: +353 1 2799 400 |
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Darragh Byrne, Company Secretary |
Email: investorrelations@dcc.ie |
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Rossa White, Head of Group Investor Relations & Comms. |
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Media enquiries: |
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Sodali & Co (Eavan Gannon/Pete Lambie) |
Tel: +44 20 7250 1446 |
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Email: DCCGroup@sodali.com |
About DCC plc
Invested in Energy
DCC is a customer-focused energy business, specialising in the sales, marketing, and distribution of secure, cleaner and competitive energy solutions to commercial, industrial, domestic, and transport customers. Headquartered in Dublin, DCC is listed on the London Stock Exchange and is a constituent of the FTSE 100. In our financial year ended 31 March 2025, DCC generated revenues of £18.0 billion and adjusted operating profit of £617.5 million. DCC has an excellent record, delivering compound annual growth of 13% in continuing adjusted operating profit and unbroken dividend growth of 13% while maintaining high returns on capital employed over 31 years as a public company.
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