Share Repurchase

Source: RNS
RNS Number : 9254D
Serco Group PLC
08 March 2022

Serco share repurchase programme

8 March 2022


Serco today provides this further announcement in connection with its intention to repurchase shares over the next 12 months valued at up to £90 million, as announced on 24 February 2022.


The first tranche of the buyback will be a programme (the 'Programme') to purchase shares with a value of up to £40 million.  This will occur during the period starting on 8 March 2022 and ending no later than 16 August 2022 (the 'Engagement Period').  The second tranche of the buyback, with a value of up to £50 million, is expected to commence following completion of the first tranche. The aggregate number of shares acquired by the Company shall not exceed the balance of 107,694,378 shares remaining of the 121,662,712 shares authorised by shareholders at the 2021 Annual General Meeting.  It is intended that any shares repurchased under the Programme will be transferred into treasury and subsequently cancelled.


The Company has entered into an agreement with J.P. Morgan Securities plc (JPMS plc) under which it has issued an irrevocable instruction to JPMS plc to manage the Programme for the Engagement Period. JPMS plc will carry out the instruction through the acquisition of ordinary shares in the Company for subsequent repurchase by the Company.  This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.


JPMS plc may undertake transactions in ordinary shares of the Company (which may include sales and hedging activities, in addition to purchases which may take place on any available trading venue or on an over the counter basis) during the Engagement Period in order to manage its market exposure under the Programme.  Disclosure of such transactions will not be made by JPMS plc as a result of or as part of the Programme, but JPMS plc will continue to make any disclosures it is otherwise legally required to make.




For further information please contact:

Paul Checketts, Head of Investor Relations, tel: +44 (0) 7718 195 074 or email:

Marcus De Ville, Head of Media Relations, tel: +44 (0) 7738 898 550 or email:


About Serco

Serco is a leading provider of public services. Our customers are governments or others operating in the public sector.  We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East. More information can be found at



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.