Last checked at 26 Apr 2022 15:52
26 April 2022
Taylor Wimpey plc
Share Buyback Programme - Launch of Second Tranche
Taylor Wimpey plc (the "Company") announces that it has instructed Credit Suisse International ("CSI") to purchase up to £75,000,000 of the Company's shares as part of the second tranche (the "Second Tranche") of its £150,000,000 share buyback programme announced on 3 March 2022 (the "Buyback Programme"). CSI will act as principal for the simultaneous on-sale of such shares to the Company and will make its trading decisions concerning the timing of the purchases of the Company's ordinary shares independently of the Company. Purchases of the Company's shares under the Second Tranche will commence tomorrow, 27 April 2022, and end no later than 29 July 2022.
The purpose of the Buyback Programme is to return excess capital to the Company's shareholders and reduce the share capital of the Company, and it is expected that the implementation of the Buyback Programme will enhance earnings per share.
To the extent permitted by law, ordinary shares purchased under the Buyback Programme will be cancelled.
Any acquisitions under the Second Tranche will be carried out within certain pre-set parameters in accordance with the Company's general authority to repurchase shares as granted at the Company's 2022 Annual General Meeting, which took place earlier today, pursuant to which the maximum number of shares to be bought back by the Company may not exceed 364,892,070 ordinary shares of 1 pence each.
Any acquisitions will be made in accordance with the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules.
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For further information please contact:
Taylor Wimpey plc Tel: +44 (0) 1494 858323
Chris Carney, Group Finance Director
Alice Black, Group General Counsel and Company Secretary
Notes to editors:
Taylor Wimpey plc is a customer-focused homebuilder operating at a local level from 23 regional businesses across the UK. We also have operations in Spain. Our purpose is to deliver great homes and create thriving communities.
For further information please visit the Group's website: www.taylorwimpey.co.uk/corporate
Follow us on Twitter @TaylorWimpeyplc