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Last checked at 
2 Jan 2025 07:00
2 January 2025
Future plc
Share repurchase programme
Future plc (the Company) (LSE: FUTR) the global platform for intent-led specialist media, announces that, in connection with the share buyback programme of up to £55 million which it announced on 5 December 2024, it is commencing a share buyback programme (the Programme) to purchase shares with a value of up to £55 million subject to remaining within the FY2024 AGM authority (the Authority). The Authority is for a maximum of 11,672,792 shares, of which 4,398,605 shares were purchased under the share buyback programme which was announced in May 2024 and which was completed on 21 October 2024, leaving 7,274,188 shares available to be purchased under the Authority.
The Programme will be executed during the period starting today, 2 January 2025, and ending no later than the conclusion of the Company's FY2026 Annual General Meeting or, if earlier, the close of business on 1 December 2025 (the Engagement Period), in order to reduce the Company's capital.
In order to implement the Programme, the Company has entered into an irrevocable, non-discretionary agreement with Numis Securities Limited (Deutsche Numis) to conduct the Programme on its behalf and carry out on-market purchases of ordinary shares of 15p each in the capital of the Company (Ordinary Shares), acting as riskless principal, and to on-sell such Ordinary Shares to the Company. The Company intends to cancel the Ordinary Shares it purchases through the Programme. Deutsche Numis will make trading decisions in relation to the Programme independently of the Company. Any purchases of Ordinary Shares under the Programme will be carried out on the London Stock Exchange and/or other recognised investment exchanges in accordance with certain pre-set parameters set out in the agreement with Deutsche Numis and in accordance with (and subject to the limits prescribed by) the Authority, Chapter 12 of the UK Listing Rules, Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the Withdrawal Act)), the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of domestic law by virtue of the Withdrawal Act) and other applicable laws. No repurchases of Ordinary Shares under the Programme will be made in or into the United States.
Future will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred.
The Board will keep the Programme under review and continue to assess it against its capital allocation priorities.
Enquiries:
David Bateson
General Counsel and Company Secretary
Future plc
Tel: 01225 442244
Legal Entity Identifier (LEI): 213800K2581YRLEXV353
About Future
We are the platform for creating and distributing trusted, specialist content, to build engaged and valuable global communities. We operate c.230 brands in diversified content verticals, with multiple market leading positions and three core monetisation frameworks: advertising, eCommerce affiliate and direct consumer monetisation (subscriptions and newstrade magazine sale). Our content is published and distributed through a range of formats including websites, email newsletters, videos, magazines and live events. The successful execution of our strategy is focused on three pillars: grow engaged audience, diversify and grow revenue per user and optimise the portfolio.
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