Commencement of Share Buyback Programme
Summary by AI BETAClose X
3i Group plc to commence new share buyback of up to £750 million
3i Group plc ("3i" or the “Company”) announces that its £750 million share buyback programme launched on 14 May 2026 (the “Previous Programme”) will be coming to an end today and that it will commence a further share buyback programme of its ordinary shares of 73 19/22p each ("Shares") for up to a maximum aggregate consideration of £750 million (the "New Programme").
The New Programme will commence on 12 November 2026 and complete by no later than 31 May 2027. 3i has entered into an arrangement with Deutsche Bank AG, acting through its London branch (the "Broker"), to undertake the New Programme by making market purchases, as riskless principal, of the Shares on the London Stock Exchange or another recognised investment exchange (the “Agreement”).
The Broker will make trading decisions under the Programme independently of 3i, subject to certain parameters agreed between the Broker and 3i prior to the commencement of the Programme and to 3i's right to terminate the Agreement.
Shares acquired by the Broker will subsequently be sold on to 3i and will be cancelled. The purpose of the New Programme is therefore to reduce 3i’s share capital.
The Company purchased a total of 29,545,762 Shares under the Previous Programme at an aggregate cost of £737,229,772 (excluding fees and taxes). The maximum number of Shares that can be purchased under the New Programme is 83,324,814 Shares. This represents the total number of Shares authorised for purchase pursuant to the authority granted by shareholders at the Company’s 2026 Annual General Meeting on 25 June 2026 (the “2026 Authority”), less the total of 18,675,186 Shares purchased under the Previous Programme pursuant to the 2026 Authority.
Any purchase of Shares under the New Programme will be executed in accordance with the 2026 Authority, the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (both as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018), and Chapter 9 of the Financial Conduct Authority's UK Listing Rules.
Repurchases of Shares under the New Programme will be announced by no later than the end of the seventh daily market session following the calendar day on which the relevant repurchase occurred.
For further information, contact:
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3i Group plc
Silvia Santoro Investor enquiries
Kathryn van der Kroft Media enquiries
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Tel: +44 20 7975 3258 Email: silvia.santoro@3i.com
Tel: +44 20 7975 3021 Email: kathryn.vanderkroft@3i.com |
Legal Entity Identifier: 35GDVHRBMFE7NWATNM84
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