Paypoint Regulatory News (PAY)

1 Jul 2025 07:00

1 July 2025

PayPoint plc

Share Buyback Programme

On 12 June 2025, PayPoint plc ("PayPoint" or the "Company") announced its intention to increase and extend its share buyback programme to return at least £30 million per annum to shareholders until the end of March 2028 (the “Buyback Programme”), targeting a reduction in the Company’s equity base of at least 20% over the period.

The initial £20 million tranche of the Buyback Programme commenced on 1 July 2024 and completed 30 June 2025. Over the period 2,849,507 ordinary shares in the Company were repurchased for cancellation at an average price of 701.88 pence per share, representing 3.9 per cent of the issued share capital of the Company when the Buyback Programme commenced.

Subsequently, and in-line with the commitment to enhance shareholder returns, PayPoint is today pleased to announce the launch of the second tranche of the Buyback Programme to purchase ordinary shares in the capital of the Company (the "Ordinary Shares") for an aggregate consideration of up to £30 million (the “Second Tranche”), commencing with immediate effect and ending no later than 31 March 2026.

The sole purpose of the Buyback Programme is to reduce the share capital of PayPoint and therefore the Ordinary Shares purchased under the Buyback Programme will be cancelled. The Directors of the Company consider the Buyback Programme to be in the best interests of the Company and its shareholders.

The Second Tranche is subject to (i) the authority granted by a special resolution of the Company passed on 1 August 2024 (“2024 Authority”) (noting that the maximum number of Ordinary Shares which may be purchased by the Company under the 2024 Authority is 7,257,609), and (ii) the authority granted at the Company’s 2025 annual general meeting, to be held on Wednesday 6 August 2025 (proposed to be up to a maximum of 7,024,818 Ordinary Shares).

The Company has entered into renewed irrevocable, non-discretionary instructions with Investec Bank plc ("Investec") to conduct the Buyback Programme on its behalf and to make trading decisions under the Buyback Programme independently of PayPoint. The Buyback Programme will be conducted within certain pre-set parameters including those prescribed by the Market Abuse Regulation 596/2014 (as it forms part of domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended)) and Chapter 12 of the Listing Rules.

PayPoint will announce any purchase of Ordinary Shares pursuant to the Buyback Programme no later than 7.30 a.m. on the business day following the calendar day on which the purchase occurs.

Investec may undertake transactions in the Company's ordinary shares (which may include sales and hedging activities, in addition to purchases) in order to manage its market exposure under the Buyback Programme. PayPoint will make any disclosures it is legally required to make in relation to such transactions.

The Takeover Panel has reconfirmed that, under Rule 37.1 of the Takeover Code and the notes to that Rule, Asteriscos Patrimonial SL should continue to be treated as an "innocent bystander" and will not therefore be required to make an offer under Rule 9 as a result of any increase in its holding caused by such a buyback.

As of the date of this announcement, the Company's share capital consists of 70,140,123 ordinary shares of 1/3 pence each. Each ordinary share carries the right to one vote in relation to all circumstances at general meetings of the Company. The Company does not hold any shares in Treasury.

Enquiries

PayPoint plc

Nick Wiles, Chief Executive Officer Mobile: 07442 968960Rob Harding, Chief Financial Officer Mobile: 07525 707970

FGS Global

Rollo HeadJames ThompsonTelephone: 0207 251 3801

Investec Bank plc

Carlton NelsonHenry ReastTelephone: 0207 597 5970