Share Purchase

RNS Number : 9732P

Close Brothers Group PLC

15 October 2019

 

SHARE PURCHASE

15 October 2019

Close Brothers Group plc ("Close Brothers" or the "group") announces that a programme to purchase shares with an aggregate market value equivalent to £4.0 million, will commence on 15 October 2019.

The programme is in line with the group's policy of hedging its exposure to executive share awards and options granted under its all-employee share option schemes.

The share purchase of Close Brothers ordinary shares of 25p each will be undertaken on the London Stock Exchange and will take place within the limitations of the authority granted to the Board by the annual general meeting held on 15 November 2018, pursuant to which the maximum number of shares to be bought back is 15,144,688.

The purpose of the share purchase is to meet future obligations arising from the group's all-employee share option schemes.  It will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014, the Commission Delegated Regulation (EU) 2016/1052 and Chapter 12 of the Listing Rules.

The programme will commence on 15 October 2019 and will end no later than 31 January 2020.  The shares purchased will be held in Treasury and used to meet the future demand for shares from the group's employee share plans.

The group has entered into non-discretionary instructions with Link Asset Services to conduct the share purchase on its behalf and to make trading decisions under the programme independently of the group.

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities.

Enquiries: Alex Dunn, Company Secretary                                                       020 7655 3100

About Close Brothers

Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading.  We employ over 3,000 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.

 

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