Launch of Share Buyback Programme

GlobalData PLC

23 September 2024

 

23 September 2024

GlobalData Plc

Launch of Share Buyback Programme

GlobalData Plc ('GlobalData' or the 'Group') announces that the Board has approved an additional return of surplus capital of £20 million to shareholders to be implemented through a share buyback programme of GlobalData's ordinary shares (the 'Share Buyback Programme'). This follows the £10 million share buyback programme announced on 31 July 2024 and completed on 5 September 2024.

GlobalData has entered into non-discretionary arrangements with Panmure Liberum Limited ('Panmure Liberum') to conduct the Share Buyback Programme on its behalf from 23 September 2024.  Under these arrangements, Panmure Liberum will make trading decisions in relation to the buyback of the Group's ordinary shares independently of the Group within the programme terms and pre-set parameters.

The purpose of the Share Buyback Programme is to return surplus capital to shareholders and reduce the Group's share capital.  As such, all ordinary shares repurchased by the Group under the Share Buyback Programme will be cancelled.

Shares purchased under the Share Buyback Programme will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes.  The Share Buyback Programme will be effected under the authority granted by shareholders at the Group's 2024 Annual General Meeting to purchase a maximum of 84,502,770 Ordinary Shares. The Share Buyback Programme will run from the date of this announcement until 17 January 2025.  Any further updates to the Share Buyback Programme will be announced in due course.

The Share Buyback Programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK, from time to time, including, where relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and the Market Abuse (Amendment) (EU Exit) Regulations 2019).  However, due to the limited liquidity in the issued ordinary shares, in order to proceed with the Programme in an effective manner, the Group may exceed 25% (but remain below 50%) of the average daily trading volume, being the limit laid down in Article 5(1) of UK MAR and, accordingly, the Company may not benefit from the exemption contained in that Article.

The maximum price paid per Ordinary Share will be no more than the higher of (i) an amount equal to 105 per cent. of the average middle market quotations for an Ordinary Share, as derived from the London Stock Exchange Daily Official List, for the five business days immediately preceding the day on which the Ordinary Share is purchased; and (ii) an amount equal to the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out.  The minimum price that may be paid is £0.0001 per share.

The Company will make further regulatory announcements in respect of repurchases of Ordinary Shares as required by UK MAR and the AIM Rules.

ENQUIRIES

GlobalData Plc
Mike Danson, Chief Executive Officer	0207 936 6400
Graham Lilley, Chief Financial Officer
J.P. Morgan Cazenove (Nomad, Joint Broker)	0203 493 8000
Bill Hutchings
Mose Adigun
Panmure Liberum (Joint Broker)	0207 886 2500
Rupert Dearden
Dougie McLeod
Investec Bank plc (Joint Broker) Henry Reast Virginia Bull	0207 597 5970
FTI Consulting (Financial PR)	0203 727 1000
Edward Bridges	[e-mail]
Dwight Burden
Emma Hall

 

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