Last checked at 5 Mar 2024 07:01
Tuesday 5th March 2024
Rotork plc
Share buy-back programme
As announced separately today at the full-year results, Rotork plc remains a highly cash generative business with a strong cash position that provides us with considerable financial flexibility. Consistent with our stated capital allocation policy, the Board has decided to return cash to shareholders while retaining a strong balance sheet. As a result, Rotork is announcing a share buyback programme to repurchase ordinary shares of 0.5 pence each. The aggregate purchase price of all Ordinary Shares acquired under the programme will be no more than £50 million (excluding stamp duty and expenses). Any Ordinary Shares purchased by Rotork will be cancelled. Our financial flexibility enables us to pursue strategic investments and we remain active in looking for suitable opportunities, consistent with our Growth+ strategy.
Rotork plc | Tel: +44 (0)1225 733 200 |
Andrew Carter, Investor Relations Director | |
FTI Consulting | Tel: + 44 (0)20 3727 1340 |
Nick Hasell Susanne Yule |