Auto Trader Group plc Transaction in Own Shares (2174G)
14 November 2022 - 6:00PM
UK Regulatory
TIDMAUTO
RNS Number : 2174G
Auto Trader Group plc
14 November 2022
Auto Trader Group plc
14 November 2022
Share buyback programme
Auto Trader Group plc (LSE: AUTO, "Auto Trader" or the
"Company"), the UK's largest digital automotive marketplace,
announces that it intends to continue with the rolling programme of
share buybacks as previously announced on 10 November 2022, and
will instruct its broker, Numis Securities Limited, to purchase
shares on its behalf.
The programme will continue on an ongoing basis under the
authority granted by shareholders at the Company's 2022 AGM on 15
September 2022, at which the Company's shareholders generally
authorised the Company to make market purchases of up to 94,314,767
of its ordinary shares, subject to minimum and maximum price
restrictions. This authority expires at the conclusion of the
Company's 2023 AGM. The aggregate number of shares acquired by the
Company pursuant to the programme shall not exceed the maximum
number of shares which the Company is authorised to purchase
pursuant to this authority.
The purpose of the share buyback programme is to reduce the
Company's share capital. It is intended that shares purchased under
this programme will be either held in treasury (to the extent
required to satisfy existing share awards under the Company's share
incentive plans) with the remainder being immediately
cancelled.
The share buyback programme will be conducted in accordance with
the Company's general authority to repurchase shares, Chapter 12 of
the UKLA Listing Rules and relevant conditions for trading,
restrictions regarding time and volume, disclosure and reporting
obligations, and price conditions.
Enquiries:
Auto Trader Group plc
Claire Baty, Company Secretary 0345 111 0006
About Auto Trader
Auto Trader Group plc is the UK and Ireland's largest digital
automotive marketplace. Our marketplace sits at the heart of the
vehicle buying process, with the largest number of car buyers and
the largest choice of trusted stock. Auto Trader exists to grow
both its car buying audience and core advertising business. It will
change how the UK shops for cars by providing the best online car
buying experience, enabling all retailers to sell online. We aim to
build stronger partnerships with our customers, use our voice and
influence to drive more environmentally friendly vehicle choices
and create an inclusive and diverse culture. Auto Trader listed on
the London Stock Exchange in March 2015 and is now a member of the
FTSE 100 Index.
For more information, please visit:
https://plc.autotrader.co.uk/
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