Continuation of Share Buyback Programme
Summary by AI BETAClose X
29 October 2026
Springfield Properties plc
(“Springfield”, the “Company” or the “Group”)
Continuation of Share Buyback Programme
Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland, is pleased to confirm that the Board has approved the continuation of its share buyback programme (the “Buyback Programme”), following the conclusion of the Company’s 2026 Annual General Meeting held on 28 October 2026 (the “2026 AGM”).
The Buyback Programme was implemented under the authority granted by shareholders at the Company’s Annual General Meeting held on 29 October 2025 and was stated to be effective until the 2026 AGM. The Buyback Programme authorised the Company to purchase up to 5,957,372 ordinary shares of 0.125 pence each (“Ordinary Shares”), representing approximately five per cent of the Company’s issued Ordinary Share capital at the date of that authority. Since the launch of the Buyback Programme on 16 September 2026, the Company has purchased 258,888 Ordinary Shares in aggregate, which are held in treasury.
At the 2026 AGM, shareholders approved a resolution permitting the Company to make market purchases of up to 11,951,428 Ordinary Shares, representing approximately 10 per cent of the Company’s issued Ordinary Share capital at the date of the publication of the notice of the 2026 AGM (the “Authority”). The Buyback Programme will be continued in accordance with the terms announced on 16 September 2026.
The Company has instructed Cavendish Capital Markets Limited (“Cavendish”) to continue to conduct the Buyback Programme on its behalf on a broker-managed basis, with trading decisions taken independently of the Company. The Buyback Programme will continue until the earlier of the maximum number of Ordinary Shares permitted under the Buyback Programme being purchased and the Authority expiring at the end of the next annual general meeting of the Company (unless otherwise being revoked or varied).
Springfield intends to hold all Ordinary Shares so purchased in treasury for the purpose of satisfying future obligations in relation to its employees’ or other share schemes.
Shareholders should be aware that the Buyback Programme will, insofar as is possible, be conducted in accordance with the safe harbour parameters of MAR (as defined below); however, the Buyback Programme may, on any given trading day, represent a significant proportion of the daily trading volume in the Ordinary Shares on the London Stock Exchange and could exceed 25 per cent of the average daily trading volume. Accordingly, the Company may not benefit from the exemption contained in Article 5(1) in the UK version of the Market Abuse Regulations (Regulation (EU) No 596/2014), as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”).
The Company will make further announcements in due course following any share purchases under the Buyback Programme.
Enquiries
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Springfield Properties |
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Sandy Adam, Chairman Innes Smith, Chief Executive Officer Iain Logan, Chief Financial Officer |
+44 134 355 2550 |
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Cavendish Capital Markets Limited |
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Neil McDonald Peter Lynch Hanna Leijonmarck |
+44 131 220 9771 +44 131 220 9772 +44 207 908 6029
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Gracechurch Group |
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Harry Chathli Claire Norbury |
+44 204 582 3500 |
Analyst Research
Equity Development produces freely available research on Springfield Properties plc, including financial forecasts. This is available to view and download here:
https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports
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