Share repurchase programme
Summary by AI BETAClose X
29 May 2026
IMI plc
Share repurchase programme
IMI plc (the "Company") announces that, in connection with the share buyback of up to £500 million announced on 6 March 2026 (the "Programme"), the Company has entered into an agreement with Deutsche Bank AG, London Branch (trading for these purposes as Deutsche Numis) ("Deutsche Numis") to manage the second £250m tranche of the Programme (the "Second Tranche").
Deutsche Numis will carry out the acquisition of ordinary shares of 28 4/7 p in the capital of the Company (the "Shares") on a riskless principal basis for subsequent repurchase by the Company. The Second Tranche will commence on completion of the first £250m tranche of the Programme announced on 9 March 2026. It is expected that the Programme will end no later than 31 December 2026.
This arrangement is in accordance with Chapter 9 of the Financial Conduct Authority's UK Listing Rule and the Company's general authority granted by shareholders at the Company's annual general meeting held on 12 May 2026, limiting purchases of Shares by the Company in the market to nearly 10% of the Company's issued share capital as at 19 March 2026 (excluding shares held in treasury), being 24,625,138 Shares. The Programme will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (in each case, as they form part of UK law by virtue of the European Union (Withdrawal) Act 2018 as amended from time to time, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019).
Enquiries to:
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Louise Waldek |
, Company Secretary, IMI plc |
Tel: +44 (0)121 717 3780 |
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Edward Hann |
Head of Investor Relations, IMI plc |
Tel: +44 (0)7977 354810 |
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END
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