£300m buyback completed, £450m extension commenced

Summary by AI BETAClose X

Drax Group PLC has completed its £300 million share buyback program, repurchasing 47,184,439 ordinary shares between August 7, 2024, and October 8, 2025. Following this, the company is commencing the first tranche of a £450 million extension to the share buyback program, with a maximum consideration of £75 million for this initial tranche. This first tranche allows for the repurchase of up to 22,387,631 shares. J.P. Morgan Securities plc will manage this first tranche through open market transactions, adhering to regulatory parameters. The repurchased shares will be held in treasury.

Disclaimer*

Companies

Drax Group (DRX)
UK 100

Latest directors dealings