Commencement of Share Buyback
Source: RNS
Commencement of Share Buyback
Legal & General Group plc ("the Company") announces that it will today commence a share buyback programme for up to a maximum consideration of £200m (the "Programme"), as announced on 12 June 2024.
The Company has entered into a non-discretionary agreement with Barclays Capital Securities Limited ("Barclays") to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company. Shares acquired by Barclays under the agreement will be purchased by Barclays as riskless principal and subsequently cancelled. The purpose of the Programme is therefore to reduce the Company's share capital.
Any purchase of the Company's ordinary shares contemplated by this announcement will be executed in accordance with the Company's general authority to repurchase ordinary shares granted by its shareholders on 23 May 2024, the UK Market Abuse Regulation, the Companies Act 2006, and Chapter 12 of the Financial Conduct Authority's Listing Rules. The maximum number of shares to be acquired under the Programme is 597,971,439 and the Programme is expected to complete by 12 December 2024.
Notes
About Legal & General Group plc
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society. As at 12 June 2024, Legal & General has a market capitalisation of £13.7 billion.
Enquiries
Investors
+44 203 124 2091
Edward Houghton, Group Strategy & Investor Relations Director
investor.relations@group.landg.com
+44 203 124 4415
Gregory Franck, Investor Relations Director
investor.relations@group.landg.com
Media
+44 738 443 5692
Natalie Whitty, Group Corporate Affairs Director
natalie.whitty@group.landg.com
+44 20 3805 4822
Lucy Legh / Nigel Prideaux, Headland Consultancy
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