REG - Legal & General Grp - Commencement of Share Buyback

Legal & GeneralAnnouncement

13/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240613:nRSM2194Sa&default-theme=true

RNS Number : 2194S  Legal & General Group Plc  13 June 2024

Commencement of Share Buyback

 

Legal & General Group plc ("the Company") announces that it will today
commence a share buyback programme for up to a maximum consideration of £200m
(the "Programme"), as announced on 12 June 2024.

 

The Company has entered into a non-discretionary agreement with Barclays
Capital Securities Limited ("Barclays") to conduct the Programme on its behalf
and to make trading decisions under the Programme independently of the
Company. Shares acquired by Barclays under the agreement will be purchased by
Barclays as riskless principal and subsequently cancelled. The purpose of the
Programme is therefore to reduce the Company's share capital.

 

Any purchase of the Company's ordinary shares contemplated by this
announcement will be executed in accordance with the Company's general
authority to repurchase ordinary shares granted by its shareholders on 23 May
2024, the UK Market Abuse Regulation, the Companies Act 2006, and Chapter 12
of the Financial Conduct Authority's Listing Rules. The maximum number of
shares to be acquired under the Programme is 597,971,439 and the Programme is
expected to complete by 12 December 2024.

 

Notes

 

About Legal & General Group plc

Established in 1836, Legal & General is one of the UK's leading financial
services groups and a major global investor, with £1.2 trillion in total
assets under management (as at FY23) of which c40% (circa £0.5 trillion) is
international.

We have a highly synergistic business model, which continues to drive strong
returns. We are a leading international player in Institutional Retirement, in
Retail Savings and Protection, and in both public and private markets through
our Asset Management division. Across the Group, we are committed to
responsible investing and dedicated to serving the long-term savings and
investment needs of customers and society. As at 12 June 2024, Legal &
General has a market capitalisation of £13.7 billion.

Enquiries

Investors

 +44 203 124 2091

Edward Houghton, Group Strategy & Investor Relations Director

investor.relations@group.landg.com (mailto:investor.relations@group.landg.com)

 

+44 203 124 4415

Gregory Franck, Investor Relations Director

investor.relations@group.landg.com (mailto:investor.relations@group.landg.com)

 

Media

 +44 738 443 5692

Natalie Whitty, Group Corporate Affairs Director

natalie.whitty@group.landg.com (mailto:natalie.whitty@group.landg.com)

 

+44 20 3805 4822

Lucy Legh / Nigel Prideaux, Headland Consultancy

LandG@headlandconsultancy.com (mailto:LandG@headlandconsultancy.com)

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGPUCAQUPCGQP