Share Buyback Programme
Summary by AI BETAClose X
M.P. EVANS GROUP PLC
("Group" or "M.P. Evans")
Share buyback programme
The board of directors of M.P. Evans (the "Board") is pleased to announce that the Group is recommencing its share buyback programme (the "Programme") following the renewed authority for share purchases granted by shareholders at the annual general meeting held on 12 June 2026.
The next phase of the Programme will have a budget of up to £3 million to be used to buy back M.P. Evans' shares of 10 pence each ("Shares") in the market over the next three months until 15 September 2026. At that time, the Board will consider a further extension to the Programme.
The Board believes the Group is well positioned, supported by strong operational cash generation and a robust balance sheet. This provides an opportunity to repurchase Shares at advantageous levels, as part of its overall approach to capital allocation, which will focus on long-term value creation for shareholders.
In order to implement the Programme, M.P. Evans has entered into an agreement with Cavendish Capital Markets Limited ("Cavendish") on the following basis:
· Cavendish will manage the purchases on a discretionary basis, purchasing Shares within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by, the Group. Purchases may therefore continue during any closed periods of the Group.
· The Programme will operate under the authority granted to the Group by shareholders at the Group's most recent Annual General Meeting, held on 12 June 2026.
· Any Shares purchased will be cancelled.
· The Group has authorised this phase of the Programme to commence with immediate effect and will continue whilst it retains the authority from shareholders to repurchase Shares until 15 September 2026.
· The Programme will be conducted in accordance with the safe harbour parameters as prescribed by MAR.
Enquiries:
|
M.P. Evans Group PLC |
Tel: +44 (0) 1892 516333 |
|
Peter Hadsley-Chaplin, chairman |
|
|
Matthew Coulson, chief executive |
|
|
Luke Shaw, chief financial officer |
|
|
|
|
|
Cavendish Capital Markets (Nomad and joint broker) |
Tel: +44 (0) 20 7220 0500 |
|
Matt Goode, George Lawson (Corporate finance) |
|
|
Will Smith, Harriet Ward (ECM) |
|
|
|
|
|
Canaccord Genuity Limited (Joint broker) |
Tel: +44 (0) 20 7523 4500 |
|
Henry Fitzgerald-O'Connor, George Grainger |
|
|
|
|
|
Alma Strategic Communications (Financial PR) |
Tel: +44 (0)20 3405 0205 |
|
Rebecca Sanders-Hewett, Josh Royston, David Ison |
|
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 hour ago ASOS
- 1 hour ago MJ Gleeson
- 1 hour ago Rolls-Royce Holdings
- 2 hours ago Crest Nicholson Holdings
- 2 hours ago Naked Wines