Transaction in Own Shares and CDIs

RNS Number : 6686I

Virgin Money UK PLC

06 December 2022

 

Virgin Money UK PLC

LEI: 213800ZK9VGCYYR6O495

ISIN: GB00BD6GN030
6 December 2022

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

The Company announces that on 5 December 2022 it had purchased a total of (a) 1,255,300 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) 644,298 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 05 December 2022	687,000	244,300	324,000	644,298
Highest price paid (per ordinary share/CDI) on 05 December 2022	£1.8090	£1.8085	£1.8085	A$3.2100
Lowest price paid (per ordinary share/CDI) on 05 December 2022	£1.7745	£1.7745	£1.7740	A$3.1500
Volume weighted average price paid (per ordinary share/CDI)	£1.7936	£1.7934	£1.7934	A$3.1855

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 60,442,052. As such, the Company has now bought back 62,341,650  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 1,380,634,526.

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/6686I_1-2022-12-5.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	[phone]
Head of Investor Relations	[e-mail]
Amil Nathwani	[phone]
Senior Manager, Investor Relations	[e-mail]
Martin Pollard	[phone]
Senior Manager, Investor Relations	[e-mail]
Company Secretary
Lorna McMillan	07834 585436
Group Company Secretary	[e-mail]
Media Relations
Press Office	0800 066 5998
	[e-mail]

 

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