Moonpig Group Plc - Share Repurchase Programme
PR Newswire
LONDON, United Kingdom, November 05
5 November 2024
Moonpig Group plc
Share Repurchase Programme
Moonpig Group plc (the "Company") announces that further to the announcement on 16 October 2024, it is today commencing a share buyback programme (the "Share Buyback Programme") to repurchase up to £25m of its ordinary shares (the "Shares").
The Share Buyback Programme will run from the date of this announcement until either 30 April 2025 or until notified by the Company. The Company's policy with respect to share buybacks is that it will only conduct share buybacks when they use excess capital and they are earnings enhancing.
The Share Buyback Programme will operate under the authority granted at the Company's 2024 Annual General Meeting, by which the Company was authorised to repurchase up to a maximum amount of 34,362,148 Shares (the "Share Buyback Authority"). The purpose of the Share Buyback Programme is to return excess capital to shareholders and reduce the capital of the Company. Shares bought back under the Share Buyback Programme are intended to be cancelled.
In order to implement the Share Buyback Programme, J.P. Morgan Securities plc ("JPMS plc") shall purchase ordinary shares as riskless principal (and not as agent of the Company) for the subsequent sale on to, and purchase by, the Company. JPMS plc will make its trading decisions in relation to the ordinary shares independently of, and uninfluenced by, the Company, and in accordance with certain pre-set parameters agreed with the Company. Any purchases of Ordinary Shares under the Share Buyback Programme will be carried out on the London Stock Exchange and in accordance with (and subject to the limits prescribed by) the Share Buyback Authority, Chapter 9 of the Financial Conduct Authority's Listing Rules, Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the "Withdrawal Act")) and the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of domestic law by virtue of the Withdrawal Act).
Enquiries:
Moonpig Group | investors@moonpig.com, pressoffice@moonpig.com |
Nickyl Raithatha, Chief Executive Officer |
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Andy MacKinnon, Chief Financial Officer |
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About Moonpig:
Moonpig Group plc (the "Group") is a leading online greeting cards and gifting platform, comprising the Moonpig, Red Letter Days and Buyagift brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its markets and is also the UK market leader in gift experiences.
The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.
The Group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the Group to optimise and personalise the customer experience and provide scalability. Learn more at https://www.moonpig.group/.
