Last checked at 15 Mar 2022 07:00
SECOND TRANCHE OF THE $250 MILLION SHARE BUYBACK PROGRAMME
On 8 December 2021, Man Group plc (the "Company") announced its intention to buy back shares up to a value of $250 million (the "Share Buyback Programme") with a first tranche of up to $125 million (the "First Tranche"). The First Tranche began on 8 December 2021 and is expected to complete in the coming days. The Company now announces that it will commence the next tranche of the Share Buyback Programme of up to $125 million (the "Second Tranche") following the completion of the First Tranche.
The Company has extended its original irrevocable, non-discretionary agreement with J.P. Morgan Securities plc to repurchase, on its behalf, the Company's shares (as announced on 8 December 2021) by increasing the maximum value from $125 million to $250 million in order to cover the Second Tranche. No other amendments have been made to the terms of the original irrevocable, non-discretionary agreement. Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. Share purchases can take place up to 7 December 2022, and may continue during any closed period to which the Company is subject.
Further details of the Share Buyback Programme are contained in the announcement entitled 'Share Buyback Programme of up to $250 million', which was released on 8 December 2021.
Enquiries
Karan Shirgaokar
Director, Investor Relations
+44 (0)20 7144 1434
investor.relations@man.com
Georgiana Brunner
Head of Communications
+44 (0)20 7144 1000
media@man.com
Neil DoyleFTI Consulting
+44 (0)777 1978 220
Man@FTIConsulting.com