REG - Rotork PLC - Share Buy-Back Programme

RotorkAnnouncement

13/09/2024 08:00

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RNS Number : 1116E  Rotork PLC  13 September 2024

Rotork plc

Share buy-back programme - Tranche 4

13 September 2024

 

As announced on 5 March 2024, Rotork plc ('Rotork' or the 'Company') commenced
a share buyback programme (the 'Programme') to repurchase ordinary shares of
0.5 pence each in the capital of the Company ('Ordinary Shares') of up to £50
million (excluding stamp duty and expenses). Our financial flexibility enables
us to pursue strategic investments and we remain active in looking for
suitable opportunities, consistent with our Growth+ strategy.

 

The fourth tranche will be carried out through an irrevocable
non-discretionary agreement with Morgan Stanley & Co. International Plc
('MS'), pursuant to which MS shall purchase Ordinary Shares as riskless
principal (and not as agent of Rotork) for the subsequent sale on to, and
purchase by, Rotork. The fourth tranche of the Programme will commence on 16
September 2024 and end no later than 15 November 2024. The aggregate purchase
price of all Ordinary Shares acquired under the fourth tranche of the
Programme will be no greater than £10 million (excluding stamp duty and
expenses). Any purchases under the Programme will take place in accordance
with (and subject to the limits prescribed by) the Company's general authority
to repurchase Ordinary Shares granted by its shareholders at the Company's
2024 Annual General Meeting (the '2024 Authority'). The maximum number of
Ordinary Shares that the Company is authorised to purchase under the 2024
Authority is 86,125,908 Ordinary Shares. MS will make its trading decisions in
relation to the Ordinary Shares independently of, and uninfluenced by, the
Company. Any Ordinary Shares purchased by the Company will be cancelled.

 

Any purchase of Ordinary Shares in relation to the Programme will be carried
out on the London Stock Exchange and any other UK recognised investment
exchange which may be agreed, in accordance with pre-set parameters and in
accordance with (and subject to limits prescribed by) the Company's 2024
Authority, Chapter 9 of the Financial Conduct Authority's UK Listing Rules,
Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic
law by the European Union (Withdrawal) Act 2018) and Commission Delegated
Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the
European Union (Withdrawal) Act 2018). Rotork will announce any market
repurchases of Ordinary Shares no later than 7.30 a.m. on the business day
following the calendar day on which the repurchase occurred.

 

Enquiries to:

 

Andrew Carter, Investor Relations Director, Rotork Plc
Tel: +44 (0) 1225 733 200

 

 

Legal Entity Identifier: 213800AH5RZIHGWRJ718

 

 

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