Share Buyback Programme

RNS Number : 4587D

Taylor Wimpey PLC

03 March 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

LEI: 21380089BTRXTD8S3R66

For immediate release

3 March 2022

Taylor Wimpey plc

Share Buyback Programme

Taylor Wimpey plc (the " Company " or " Taylor Wimpey ") announces that it has instructed Citigroup Global Markets Limited ("Citi") to purchase up to £75,000,000 of the Company's shares (the "Initial Tranche") pursuant to its £150,000,000 share buyback programme announced on 3 March 2022 (the "Buyback Programme").  Citi will act as principal for the simultaneous on-sale of such shares to the Company and will make its trading decisions concerning the timing of the purchases of the Company's ordinary shares independently of the Company.  Purchases of the Company's shares under the Initial Tranche will commence on 3 March 2022 and end no later than 3 June 2022.  Taylor Wimpey expects to announce a second tranche to complete the Buyback Programme in due course.

The purpose of the Buyback Programme is to return excess capital to the Company's shareholders and reduce the share capital of the Company, and it is expected that the implementation of the Buyback Programme will enhance earnings per share.

To the extent permitted by law, 25 million ordinary shares purchased under the Buyback Programme will be held in treasury and the remaining shares that are purchased will be cancelled.

Any acquisitions under the Initial Tranche will be carried out within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares as granted at the Company's Annual General Meeting on 22 April 2021, pursuant to which the maximum number of shares to be bought back by the Company may not exceed 364,568,532 ordinary shares of 1 pence each.  Any acquisitions will be made in accordance with the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules.

The person responsible for releasing this announcement is Alice Black - Group General Counsel and Company Secretary.

-Ends-

For further information please contact:

Taylor Wimpey plc     Tel: [phone]

Chris Carney, Group Finance Director

Alice Black, Group General Counsel and Company Secretary

Notes to editors:

Taylor Wimpey plc is a customer-focused homebuilder operating at a local level from 23 regional businesses across the UK. We also have operations in Spain. Our purpose is to deliver great homes and create thriving communities.

For further information please visit the Group's website: www.taylorwimpey.co.uk/corporate

Follow us on Twitter @TaylorWimpeyplc

 

END

 

 

POSUUOARUOUORUR