Share Buyback Programme Update

Bellway PLC

01 September 2026

 

Bellway p.l.c.

Share Buyback Programme Update

1 September 2026

Completion of Second Tranche of £150 million Initial Share Buyback Programme

Bellway p.l.c. ('Bellway' or the 'Group') announces that the second £75 million tranche of the £150 million initial share buyback programme (the 'Initial Buyback Programme'), announced on 14 October 2025, has now completed.

Bellway entered into a non-discretionary agreement with Deutsche Bank AG to conduct the second tranche of the Initial Buyback Programme on Bellway's behalf (as announced on 2 April 2026). As of 28 August 2026 3,894,531 shares had been purchased for cancellation, at a cost of £75 million (excluding stamp duty and expenses).

Launch of Initial £50 million Tranche of Second Share Buyback Programme

Bellway also confirms that, as announced in its Trading Update on 11 August 2026, the Board has approved a further £50 million share buyback (the 'Second Buyback Programme') which will represent the initial tranche of the Group's anticipated shareholder returns for FY27.  The total level of FY27 shareholder returns will be announced with the Group's Full Year Results in October 2026, following the Board's review of capital allocation priorities and prevailing market conditions.  The Second Buyback Programme will commence today. 

Bellway has entered into a non-discretionary arrangement with Citigroup Global Markets Limited ('Citi') to conduct the Second Buyback Programme on its behalf.  Under this arrangement, Citi will act as principal and make trading decisions independently from the Group in accordance with certain pre-set parameters.

The maximum aggregate consideration under the initial tranche of the Second Buyback Programme is £50 million (excluding stamp duty and expenses).  

The purpose of the Second Buyback Programme is to return surplus capital to shareholders and reduce the Group's share capital.  As such, all ordinary shares repurchased by the Group under the Second Buyback Programme will be cancelled.  It is expected that the initial tranche of the Second Buyback Programme will be completed by 30 April 2027. 

Share purchases under the Second Buyback Programme 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 Second Buyback Programme will be effected under the authority granted by shareholders at the Group's 2025 Annual General Meeting held on 27 November 2025 and, accordingly, the maximum number of shares that may be repurchased under both Buyback Programmes is 11,899,426 ordinary shares. Therefore, since 3,894,531 ordinary shares were repurchased under the Initial Buyback Programme, the maximum number of shares that may be repurchased under the Second Buyback Programme is 8,004,895 ordinary shares. 

The Second Buyback Programme will be conducted in accordance with the UK Market Abuse Regulation (Regulation (EU) No. 596/2014 as it forms part of UK domestic law) and Commission Delegated Regulation (EU) 2016/1052 as it forms part of UK domestic law, as well as applicable laws and the regulations of the UK Financial Conduct Authority (including Chapter 9 of the Listing Rules). Details of any shares repurchased under the Second Buyback Programme will be announced on a weekly basis in accordance with applicable UK regulatory requirements.

Bellway will make further announcements in due course following the buyback of shares.  Note there is no guarantee that the Second Buyback Programme will be implemented in full.   

For further information, please contact:

Bellway p.l.c.

Shane Doherty, Chief Financial Officer

0191 217 0717

Phil Hope, Group Finance Director and Company Secretary

0191 217 0717

Gavin Jago, Group Investor Relations Director

0191 217 0717

 

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