Cancellation of Buyback Programme

Virgin Money UK PLC
02 April 2024


Virgin Money UK PLC

(Company or Virgin Money)

LEI number: 213800ZK9VGCYYR6O495


2 April 2024

Cancellation of Buyback Programme

On 7 March 2024 Virgin Money announced that it was suspending the £150m buyback programme announced on 23 November 2023 (Buyback Programme), given the proposed acquisition of the Company by Nationwide Building Society (Nationwide). Following the subsequent update announced on 21 March 2024 that the boards of directors of Nationwide and the Company have agreed the terms of a recommended cash acquisition of the Company by Nationwide, the Company is today announcing the full cancellation of the remaining Buyback Programme with immediate effect.


Under the Buyback Programme, the Company returned c.£63 million to its shareholders, with the remaining c.£87 million fully deducted from its CET1 resources during Q1. As a result of today's announcement, the Company expects a CET1 ratio benefit at Q2.


This announcement does not constitute, or form part of, an offer or solicitation of an offer for securities in any jurisdiction.


Announcement authorised for release by Lorna McMillan, Group Company Secretary


For further information, please contact:



Investors and Analysts

Richard Smith

+44 7483 399 303

Head of Investor Relations & Sustainability

Amil Nathwani

+44 7702 100 398

Senior Manager, Investor Relations

Martin Pollard

+44 7894 814 195

Senior Manager, Investor Relations

Company Secretary

Lorna McMillan

07834 585436

Group Company Secretary

Media Relations

Press Office

0800 066 5998



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