Funding Circle Holdings plc: Completion of Share Buyback Programme and Commencement of New Buyback Programme
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Funding Circle Holdings plc (FCH)
15 May 2025 LEI: 2138003EK6UAINBBUS19 Funding Circle Holdings plc (the “Company”) and Commencement of New Buyback Programme The Company announces that on 14 May 2025 it completed its second £25 million share buyback programme, with the Company repurchasing a total of 21,040,683 ordinary shares of £0.001 each in its share capital (the “Ordinary Shares”) equating to 6.72% of the Company’s issued and outstanding capital. Following the cancellation of the repurchased Ordinary Shares, Funding Circle has 312,954,121 Ordinary Shares in issue. Further to the announcement of 23 April 2025, the Company is pleased to announce the commencement of the new share buyback programme of up to a maximum consideration of £25 million, (the "New Buyback Programme"). It is intended that any purchased Ordinary Shares will be cancelled or held in Treasury to satisfy awards under the Company’s employee share schemes. Any purchases of Ordinary Shares by the Company under the New Buyback Programme will be carried out on the London Stock Exchange in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The New Buyback Programme will be carried out in accordance with the parameters prescribed by the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and Chapter 12 of the Financial Conduct Authority’s Listing Rules using the average daily volume of Ordinary Shares traded in April 2025, being the month preceding the month of this announcement. The Company may repurchase up to 50% of this average daily volume. The New Buyback Programme will be conducted by the Company in accordance with the general authority to repurchase Ordinary Shares granted by the Company’s shareholders at the 2024 Annual General Meeting (the "Authority"), and with a future such authority, if granted by the Company’s shareholders, that has been put to the Company's 2025 Annual General Meeting (the "2025 AGM") in the ordinary course (the "Proposed Authority). The maximum number of Ordinary Shares that the Company may purchase under the Authority, which expires on the earlier of the conclusion of the 2025 AGM and 30 June 2025, is 54,085,678. The maximum number of Ordinary Shares that the Company may purchase under the Buyback Programme thereafter will be limited to the maximum number of Ordinary Shares that the Company is authorised to purchase under the Proposed Authority, if granted by shareholders, being 47,803,082. It is expected that, unless terminated earlier, the New Buyback Programme will end on the date on which the total GBP purchase price of all Ordinary Shares purchased by Funding Circle pursuant to the Programme is equal to, or as close as possible to, £25 million. The Company has appointed its broker, Investec Bank plc, to manage the share buyback programme to repurchase Ordinary Shares on its behalf.
ENDS
Enquiries: Funding Circle: Funding Circle Holdings plc ir@fundingcircle.com Headland Consultancy
About Funding Circle: Funding Circle (LSE: FCH) is the UK’s leading SME finance platform. Established in the UK in 2010, Funding Circle has extended more than £14.6bn in credit to over 110,000 businesses in the UK. For SME borrowers, Funding Circle provides an unrivalled customer experience, delivered through its technology and data, coupled with a human touch. Its solutions continue to help customers access the funding they need to succeed. For institutional investors, Funding Circle provides access to an alternative asset class in an underserved market, and delivers robust and attractive returns.
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GB00BG0TPX62 |
| Category Code: | MSCH |
| TIDM: | FCH |
| LEI Code: | 2138003EK6UAINBBUS19 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 388366 |
| EQS News ID: | 2137808 |
| End of Announcement | EQS News Service |
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