RNS Number : 7604W
Barratt Redrow PLC
12 February 2025
 

 

 

BARRATT REDROW PLC

Announcement of Non-Discretionary Share Buyback Programme

 

 

12 February 2025

 

 

In its Interim Results announcement earlier today, Barratt Redrow plc (the "Company") announced, in compliance with the EU and UK Market Abuse Regulations, that it will implement an irrevocable, non-discretionary programme to repurchase its ordinary shares of 10 pence each (the "Shares") up to the value of £50 million in total (excluding expenses) commencing 12 February 2025 and ending no later than 30 June 2025 inclusive (the "Programme").

 

The Company has entered into an agreement with UBS AG London Branch ("UBS") under which it has issued irrevocable instructions to UBS to manage the Programme. UBS will carry out the Company's instructions through the acquisition of the Shares in the Company for subsequent repurchase by the Company. UBS will make its trading decisions under the Programme independently of, and uninfluenced by, the Company. For the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.

 

The purpose of the Programme is to reduce the capital of the Company, and it intends that the Shares purchased will be cancelled.

 

Any share purchases will be made by the Company within certain pre-set parameters and in accordance with the general authority of the Company to repurchase shares granted by shareholders at the Company's Annual General Meeting held on 23 October 2024 which, taking into account shares purchased subsequent to this meeting, permits the Company to purchase no more than 145,090,138 ordinary shares. Any share purchases effected by the Company will be in accordance with the EU and UK Market Abuse Regulations and UKLR 9.

Barratt Redrow plc

Mike Scott, Chief Financial Officer                                       

01530 278 278

John Messenger, Group Investor Relations Director

07867 201 763



Media enquiries

Tim Collins, Group Corporate Affairs Director                      

01530 278 278

 

Brunswick

Jonathan Glass / Rosie Oddy                                    

020 7404 5959


Barratt Redrow plc LEI: 2138006R85VEOF5YNK29

 

 

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