Launch of Share Buyback Programme
Summary by AI BETAClose X
23 June 2026
Telecom Plus PLC
("Telecom Plus" or the "Company")
Launch of Share Buyback Programme
Further to today's announcement of the Company's full year results for the financial year ended 31 March 2026, and in line with the revised distribution policy, Telecom Plus announces its intention to commence a new share buyback programme in respect of its ordinary shares of £0.05 each ("Ordinary Shares"), for up to £40 million in aggregate consideration (the "Share Buyback Programme").
Details of the Share Buyback Programme
Telecom Plus has given irrevocable and non-discretionary instructions to Peel Hunt LLP ("Peel Hunt") and Investec Bank plc ("Investec") (together, the "Brokers") in relation to the Share Buyback Programme, which will commence today and end no later than 31 March 2027. The Brokers will act as principals during the Share Buyback Programme and will make trading decisions concerning the timing of the purchases of Ordinary Shares independently of the Company.
The purpose of the Share Buyback Programme is to reduce the share capital of the Company.
The maximum amount allocated to the Share Buyback Programme is £40 million. Any market repurchase of Ordinary Shares will be announced no later than the end of the seventh daily market session following the date on which the repurchase occurred. All Ordinary Shares repurchased will be cancelled or transferred to treasury.
Any purchases of Ordinary Shares contemplated by this announcement will be effected within certain pre-set parameters. These arrangements are in accordance with the general authority granted by the Company's shareholders at its Annual General Meeting held on 6 August 2025 (the "2025 AGM") (and subject to renewed authority at the Company's 2026 Annual General Meeting), Chapter 9 of the Financial Conduct Authority's UK Listing Rules, and those provisions of Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes.
In order to proceed with the Share Buyback Programme in an effective manner, the Company's purchases of Ordinary Shares on any trading day may exceed 25 per cent., but will remain below 50 per cent., of the average daily trading volume of the Ordinary Shares during the 20 trading days preceding the date of purchase. Accordingly, to the extent that purchases exceed the limits prescribed by Commission Delegated Regulation (EU) 2016/1052, the Company will not benefit from the exemption contained in Article 5(1) of UK MAR.
Enquiries:
For more information, please contact:
|
Telecom Plus PLC Stuart Burnett, CEO Nick Schoenfeld, CFO |
020 8955 5000 |
|
For investor relations: Louise Rich
|
louise.rich@uw.co.uk / 07486 895017 |
|
Peel Hunt Dan Webster / Andrew Clark |
020 7418 8900 |
|
Investec Henry Reast / Carlton Nelson / Tom Brookhouse |
020 7597 5970 |
|
|
|
|
For media enquiries: FGS Gordon Simpson / Emma Spencer |
020 7251 3801 |
LEI code: 549300QGHDX5UKE58G86
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
- 4 hours ago ASOS
- 5 hours ago MJ Gleeson
- 5 hours ago Rolls-Royce Holdings
- 5 hours ago Crest Nicholson Holdings
- 6 hours ago Naked Wines