Commencement of Share Buyback Programme

Robert Walters PLC

03 May 2023

 

3 May 2023

ROBERT WALTERS PLC

(the 'Company' or the 'Group')

Commencement of Share Buyback Programme

The Company is pleased to announce the commencement of a share buyback programme (the "Programme") with effect from and including today to purchase ordinary shares of 20 pence each in the Company ("Ordinary Shares") with an aggregate value of up to £10 million.

The purpose of the Programme is to reduce the Company's share capital and it is intended that Ordinary Shares purchased shall be cancelled. The Programme will end on 30 September 2023.

The Group will seek to make market purchases of Ordinary Shares at a price or prices that the Group believes will be good value for shareholders. In view of the level of trading liquidity in the Company's Ordinary Shares, the Group may make purchases in excess of the price and volume restrictions set out in Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018), subject to prevailing market conditions and liquidity.

Any purchases of Ordinary Shares by the Company in relation to the Programme will be conducted in accordance with the Company's general authority to repurchase Ordinary Shares granted by its shareholders at the Annual General Meeting held on 27 April 2023 (the "General Authority"), any further approvals to purchase shares as may be granted by its shareholders from time to time, and Chapter 12 of the Listing Rules. Under the General Authority, the Company is permitted to make purchases of up to 7,485,410 Ordinary Shares.

The Company has entered into an irrevocable, non-discretionary instruction with Investec Bank plc ("Investec") to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company.

The Company will make further announcements in due course following the completion of any repurchases. There is no guarantee that the Share Buyback will be implemented in full or that any Ordinary Shares will be repurchased by the Company.

At the time of this announcement, the Company's issued share capital consists of 78,928,095 Ordinary Shares, of which 4,074,000 Ordinary Shares are held in treasury, and the total number of voting rights in the Company is therefore 74,854,095.

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Further information:

Robert Walters plc Toby Fowlston, Chief Executive Alan Bannatyne, Chief Financial Officer	[phone]
Williams Nicolson Steffan Williams	[phone]

About Robert Walters Group

The Robert Walters Group is a market-leading international specialist professional recruitment group. With over 4,400 staff spanning 31 countries, we deliver specialist recruitment consultancy, staffing, recruitment process outsourcing and managed services across the globe. We match highly skilled professionals to permanent, contract and interim roles across the disciplines of accountancy & finance, banking, engineering, HR, healthcare, technology, legal, sales, marketing, secretarial & support, and supply chain, logistics & procurement. Our client base ranges from the world's leading blue-chip corporates and financial services organisations through to SMEs and start-ups.

www.robertwaltersgroup.com

 

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