Transaction in Own Shares and CDIs

RNS Number : 1647I
Virgin Money UK PLC
01 December 2022
 

 

Virgin Money UK PLC

LEI: 213800ZK9VGCYYR6O495

ISIN: GB00BD6GN030
1 December 2022

 

Virgin Money UK PLC (the "Company")
Transaction in Own Shares and CDIs

 

The Company announces that on 30 November 2022 it had purchased a total of (a) 1,139,724 of its ordinary shares of £0.10 each (the "ordinary shares") on the London Stock Exchange, Chi-X Europe and/or BATS Europe through the Company's broker Citigroup Global Markets Limited and (b) 1,112,734 CHESS Depositary Interests ("CDIs"), each representing one ordinary share, on the Australian Securities Exchange through the Company's broker Citigroup Global Markets Australia Pty Limited, in each case as detailed below. The repurchased ordinary shares (including the CDIs, once transmuted into ordinary shares) will be cancelled.


London Stock Exchange

Chi-X Europe

BATS Europe

Australian Securities Exchange

Number of ordinary shares/CDIs purchased on 30 November 2022

633,824

224,700

281,200

1,112,734

Highest price paid (per ordinary share/CDI) on 30 November 2022

£1.7410

£1.7410

£1.7410

A$3.0500

Lowest price paid (per ordinary share/CDI) on 30 November 2022

£1.7095

£1.7105

£1.7105

A$2.9900

Volume weighted average price paid (per ordinary share/CDI)

£1.7269

£1.7268

£1.7266

A$3.0208

The purchases form part of (i) the Company's share buyback programme announced on 30 June 2022 (the "Initial Buyback") and (ii) the Company's extended share buyback programme announced on 21 November 2022 (the "Extended Buyback"). The Initial Buyback and Extended Buyback will be effected within the scope of the authority conferred on the Company at its February 2022 Annual General Meeting. The Initial Buyback start date was 30 June 2022 and end date is 17 December 2022. The Extended Buyback start date was 21 November 2022 and in the case of Shares bought back in the UK the end date is 2 May 2023 and, in the case of CDIs bought back in Australia, the end date is 2 May 2023 subject to approval by shareholders within the scope of the authority to be sought at the Company's 2023 Annual General Meeting.

The total number of ordinary shares and CDIs purchased up to and including the prior announcement was 54,376,184. As such, the Company has now bought back 56,628,642 ordinary shares and CDIs (in aggregate). In connection with the Initial Buyback, the Company intends to repurchase up to £75 million of ordinary shares and CDIs (in aggregate) and in connection with the Extended Buyback the Company intends to repurchase up to £50 million of ordinary shares and CDIs (in aggregate).

Following settlement of the above purchases and cancellation of the purchased ordinary shares and CDIs, the Company's total number of ordinary shares in issue shall be 1,386,347,534.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018, to view the detailed breakdown of individual trades made by Citigroup Global Markets Limited on behalf of the Company as part of the share buyback programme please follow this link.

http://www.rns-pdf.londonstockexchange.com/rns/1647I_1-2022-11-30.pdf

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

Announcement authorised for release by Lorna McMillan, Group Company Secretary.

 

For further information, please contact:

 

Investors and Analysts


Richard Smith

+44 7483 399 303

Head of Investor Relations

richard.smith@virginmoneyukplc.com



Amil Nathwani

+44 7702 100 398

Senior Manager, Investor Relations

amil.nathwani@virginmoneyukplc.com



Martin Pollard

+44 7894 814 195

Senior Manager, Investor Relations

martin.pollard@virginmoneyukplc.com



Company Secretary


Lorna McMillan

07834 585436

Group Company Secretary

lorna.mcmillan@virginmoneyukplc.com



Media Relations


Press Office

0800 066 5998


press.office@virginmoneyukplc.com

 

 

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