Last checked at 30 Aug 2022 12:00
30 August 2022
Ibstock plc
Share Buyback Programme Update
Ibstock plc (the "Company") announces that, pursuant to the share buyback programme commenced on 10 May 2022 in respect of its ordinary shares of 1p each (the "Ordinary Shares") up to a maximum pecuniary amount of £30 million (the "Share Buyback Programme"), the Company will commence the second tranche of purchases under the Share Buyback Programme on 30 August 2022. This will follow completion of the first tranche of purchases by UBS AG London Branch on 26 August 2022.
In respect of the second tranche of purchases, the Company announces that it has entered into an irrevocable non-discretionary instruction with Peel Hunt LLP ("Peel Hunt") in relation to the purchase by Peel Hunt, acting as principal during the period commencing on 30 August 2022 and ending no later than 5 May 2023, of Ordinary Shares for an aggregate consideration (including expenses) of no greater than £15 million and the simultaneous on-sale of such Ordinary Shares by Peel Hunt to Ibstock, where they will be held in treasury. Peel Hunt will make its trading decisions concerning the timing of the purchases of Ordinary Shares independently of, and uninfluenced by, the Company.
The Share Buyback Programme will continue to be conducted within certain pre-set parameters, and in accordance with the general authority to repurchase shares granted by the Group's shareholders at the 2022 Annual General Meeting, Chapter 12 of the UK Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019 ("UK MAR") and the Commission Delegated Regulation 2016/1052/EU as amended by Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019 which both form part of the law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018.
Ibstock will continue to 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.
Ibstock plc | 01530 261 999 |
Nick Giles (Group Company Secretary) | |
Citigate Dewe Rogerson | 020 7638 9571 |
Kevin Smith | |
Holly Gillis |
About Ibstock Plc
Ibstock plc is a leading UK manufacturer of clay bricks and a diversified range of clay and concrete products. Its principal products are clay bricks, brick components, concrete roof tiles, concrete alternatives for stone masonry, concrete fencing and pre ‐ stressed concrete products.
The Group's two divisions are:
Ibstock Clay: The leading manufacturer by volume of clay bricks sold in the United Kingdom. With 16 manufacturing sites Ibstock Brick has the largest brick production capacity in the United Kingdom. It operates a network of 18 active quarries located close to its manufacturing plants. Ibstock Kevington provides masonry and pre-fabricated component building solutions, operating from 6 sites across the United Kingdom.
Ibstock Concrete: A leading manufacturer of concrete roofing, walling, flooring and fencing products, along with lintels and general concrete building products, with 14 manufacturing plants in the United Kingdom.