Last checked at 13 Mar 2024 07:10
2024 SHARE BUYBACK
13 March 2024
Balfour Beatty, the international infrastructure group, today announces that, further to the release of its full year results on 13 March 2024, it intends to repurchase up to a maximum aggregate consideration of £100 million of Ordinary Shares during the 2024 phase of the share buyback programme (the 'Share Buyback') (inclusive of the initial tranche of the 2024 share buyback of £50 million announced on 2 January 2024), which is intended to be completed before 31 December 2024.
Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The purpose of the share buyback is to reduce the share capital of Balfour Beatty, with the purchased shares to be held in treasury.
The maximum number of shares to be purchased under the Share Buyback is 63,162,140 Ordinary Shares (inclusive of 8,417,057 Ordinary Shares already purchased under the initial tranche of the 2024 share buyback). The Group confirms that it currently has no unpublished price sensitive information.
The Group will make further regulatory announcements to shareholders in respect of purchases of Ordinary Shares by the Group after they occur.
Investor and analyst enquiries:
Jim Ryan
Tel. +44 (0) 7858 368527
jim.ryan@balfourbeatty.com
Media enquiries:
Antonia WaltonTel. +44 (0) 7966 929 633 antonia.walton@balfourbeatty.com
Notes to editors:
· Balfour Beatty is a leading international infrastructure group with 26,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.
· We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
· Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.
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