Commencement of £20m Share Buyback Programme
Summary by AI BETAClose X
16 March 2026
Restore plc
("Restore" or the "Group" or the "Company")
Commencement of £20m Share Buyback Programme
Restore plc (AIM:RST), the UK's leading provider of secure and sustainable business services for data, information, communications and assets, today announces the commencement of a share buyback programme to purchase ordinary shares of 5 pence each in the Company ("Ordinary Shares") for up to £20 million (the "Buyback"), as announced in its full year results published on 12 March 2026.
Any ordinary shares purchased by the Company will be cancelled and, accordingly, the Buyback will reduce the Company's share capital.
Restore has instructed Investec Bank plc ("Investec") and Canaccord Genuity Limited ("Canaccord") to execute the Buyback. Restore has entered into a non-discretionary and irrevocable instruction with Investec and Canaccord, pursuant to which Investec will execute the first £10m of the Buyback (the "First Tranche") and Canaccord will execute the second £10m of the Buyback (the "Second Tranche"), each acting severally as riskless principal. The First Tranche will commence immediately. The Second Tranche will commence following completion of the First Tranche, and it is anticipated it will end no later than 31 March 2027, subject to market conditions.
The maximum number of Ordinary Shares that can be purchased in aggregate under the First Tranche and Second Tranche is 13,692,406, 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 and Canaccord 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 subject to renewed authority at the Company's 12 May 2026 annual general meeting) 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.
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For further information please contact: |
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Restore plc |
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Charles Skinner, CEO |
+44 (0) 207 409 2420 |
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Dan Baker, CFO |
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Chris Fussell, Company Secretary |
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Investec (Nominated Adviser and Joint Broker) |
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Carlton Nelson |
+44 (0) 207 597 5970 |
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James Rudd |
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Thomas Brookhouse |
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Canaccord Genuity (Joint Broker) |
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Max Hartley |
+44 (0) 207 523 8000 |
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Alex Aylen |
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FTI Consulting (PR Enquiries) |
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Nick Hasell |
+44 (0) 203 727 1340 |
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Alex Le May |
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