Mears Group PLC Completion of Buyback programme (7798X)
22 12월 2023 - 6:26PM
UK Regulatory
TIDMMER
RNS Number : 7798X
Mears Group PLC
22 December 2023
Mears Group PLC
("Mears", the "Group", or the "Company")
Completion of Buyback programme
Mears (LSE: MER), the leading provider of services to the
Housing sector in the UK is pleased to announce that it has
completed its second share buyback programme, details of which were
announced on 3 October 2023. Over the duration of the second
programme, the Group purchased and cancelled 4.9m Ordinary Shares
of 1p each at an average price of 270.9p, representing c.4.7% of
the Group's issued share capital.
When combined with the first buyback programme, which was
completed on 25 August 2023, the Group has purchased and cancelled
12.2m Ordinary shares of 1p each at an average price of 272.7p,
representing c11.0% of the Group's issued share capital at the
start of the year, a return of surplus capital of GBP33.2m.
In addition, over the course of 2023, the Group's Employee
Benefit Trust has purchased 1.7m shares at an average price of
276.7p which will be utilised in the future to settle share-based
employee remuneration reducing the dilutive impact of such
instruments.
The Group has now consumed its current authority for making
market purchases of Ordinary Shares granted to the Board of Mears
Group PLC by its Annual General Meeting, held on 23 June 2023.
For further information, contact:
Mears Group PLC Tel: +44(0)1452
634 600
David Miles
Andrew Smith
Lucas Critchley
Deutsche Numis Tel: +44(0)207
260 1000
Julian Cater
Kevin Cruickshank
Panmure Gordon Tel: +44(0)207
886 2500
Tom Scrivens
James Sinclair-Ford
About Mears
Mears is the leading provider of services to the Affordable
Housing sector, providing a range of services to individuals within
their homes. We manage and maintain around 450,000 homes across the
UK and work predominantly with Central Government and Local
Government typically through long-term contracts. We equally
consider the residents of the homes that we manage and maintain to
be our customers, and we take pride in the high levels of customer
satisfaction that we achieve.
Mears currently employs around 5,500 people and provides
services in every region of the UK. In partnership with our Housing
clients, we provide property management and maintenance services.
Mears has extended its activities to provide broader housing
solutions to solve the challenge posed by the lack of affordable
housing and to provide accommodation and support for the most
vulnerable.
We focus on long-term outcomes for people rather than short-term
solutions and invest in innovations that have a positive impact on
people's quality of life and on their communities' social,
economic, and environmental wellbeing. Our innovative approaches
and market leading positions are intended to create value for our
customers and the people they serve while also driving sustainable
financial returns for our providers of capital, especially our
shareholders.
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END
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December 22, 2023 04:26 ET (09:26 GMT)
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