Launch of £20m Share Buyback Programme
Summary by AI BETAClose X
16 March 2026
Forterra plc
Launch of £20m Share Buyback Programme
Forterra plc, "the Group" a leading UK manufacturer of essential clay and concrete building products, today announces the commencement of a share buyback programme to purchase ordinary shares of 1 pence each in the Company ("Ordinary Shares") for up to £20 million (the "Programme"), as announced in its full year results published on 11 March 2025.
Any ordinary shares purchased by the Company will be cancelled and, accordingly, the Buyback will reduce the Company's share capital.
Forterra has instructed Joint Corporate Broker Investec Bank plc ("Investec") to execute a first £10 million tranche of the Buyback. Forterra has entered into a non-discretionary instruction with Investec, pursuant to which Investec will purchase the Company's ordinary shares, acting as riskless principal. This first tranche will commence immediately. A second tranche will commence following completion of the First Tranche, and it is anticipated it will end no later than 31 December 2026, subject to market conditions.
The maximum number of Ordinary Shares that can be purchased in aggregate under the First Tranche and Second Tranche is 21,280,338, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2025 annual general meeting (the "2025 AGM") and any subsequent authority.
Investec will make their trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Company, within the terms and pre-set parameters of the Buyback.
Any purchase of Ordinary Shares under the Buyback will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes. The Buyback will be effected under the general authority to repurchase Ordinary Shares granted by the Company's shareholders at the 2025 AGM and in accordance with Chapter 12 of the UK Financial Conduct Authority's Listing Rules, and Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052 (both as they form part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018), including where relevant pursuant to the UK Market Abuse Regulation.
Any purchase of Ordinary Shares pursuant to the Buyback will be announced by no later the end of the 7th daily market session following the calendar day on which such transaction occurred.
ENQUIRIES
Forterra plc +44 1604 707 600
Neil Ash, Chief Executive Officer
Ben Guyatt, Chief Financial Officer
FTI Consulting +44 203 727 1340
Richard Mountain / Vicky Hayns
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