DJ Funding Circle Plc: Buyback Programme Update
Funding Circle Plc (FCH)
Funding Circle Plc: Buyback Programme Update
16-Oct-2024 / 08:54 GMT/BST
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16 October 2024
LEI: 2138003EK6UAINBBUS19
Funding Circle Holdings plc
(the "Company")
Completion of Share Buyback Programme
and Commencement of Further Share Buyback Programme
The Company announces that on 15 October 2024 it completed an initial GBP25 million share buyback programme, with the
Company repurchasing a total of 27,308,339 ordinary shares of GBP0.001 each in its share capital (the "Ordinary Shares")
equating to 7.56% of the Company's issued and outstanding capital. Following the cancellation of the repurchased
Ordinary Shares, Funding Circle has 333,994,804 Ordinary Shares in issue.
Having stated its intent on 5 September, the Company now announces the commencement of a further discretionary share
buyback programme (the "Programme") to purchase Ordinary Shares up to a maximum consideration of GBP25 million.
It is expected that, unless terminated earlier, the Programme will end on the date on which the total GBP purchase
price of all Ordinary Shares purchased by the Company pursuant to the Programme is equal to, or as close as possible
to, GBP25 million. It is intended that any purchased Ordinary Shares will be cancelled. The Company has appointed its
broker, Investec Bank plc ("Investec"), to manage the Programme on its behalf.
Any purchases of Ordinary Shares by the Company in relation to the Programme will be carried out on the London Stock
Exchange in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and
reporting obligations, and price conditions. The Programme will be carried out in accordance with the parameters
prescribed by the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union
(Withdrawal) Act 2018) and Chapter 12 of the Financial Conduct Authority's Listing Rules using the average daily volume
of Ordinary Shares traded in September 2024, being the month preceding the month of this announcement. The Company may
repurchase up to 50% of this average daily volume.
Subject to available distributable reserves, the Programme will be conducted in accordance with and under the terms of
the general authority granted to the Board of Directors of the Company by its shareholders at its Annual General
Meeting held on 15 May 2024 (the "2024 AGM"), which authority will expire at the end of the next Annual General Meeting
of the Company in May 2025 (the "2025 AGM"). Pursuant to the 2024 AGM authority, the maximum number of Ordinary Shares
that can be bought back by the Company is 54,085,678, representing 15% of Ordinary Shares in issue as at 20 March 2024.
Following the expiry of the 2024 AGM repurchase authority, or to the extent that the Company meets the limit of that
authority prior to the 2025 AGM, Funding Circle will seek further repurchase authority at the 2025 AGM or an earlier
General Meeting.
ENDS
Enquiries:
Funding Circle:
Investor Relations ir@fundingcircle.com
Tony Nicol
Media Relations press@fundingcircle.com
Angeli Everitt
Headland Consultancy +44 (0) 20 3805 4822
Mike Smith / Stephen Malthouse
About Funding Circle:
Funding Circle (LSE: FCH) is the UK's leading SME lending platform. Its mission is to build the place where small
businesses get the funding they need to win. Funding Circle enables small businesses to access funding - offering an
unrivalled customer experience powered by data and technology. For institutional investors, Funding Circle provides
access to an alternative asset class in an underserved market, with robust and attractive returns. Globally, Funding
Circle has extended more than GBP16bn in credit to c.150,000 businesses.
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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ISIN: GB00BG0TPX62
Category Code: MSCM
TIDM: FCH
LEI Code: 2138003EK6UAINBBUS19
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 353338
EQS News ID: 2009711
End of Announcement EQS News Service
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October 16, 2024 03:54 ET (07:54 GMT)
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