Virgin Money UK PLC Cancellation of Buyback Programme
02 Avril 2024 - 8:00AM
RNS Regulatory News
RNS Number : 9104I
Virgin Money UK PLC
02 April 2024
Virgin Money UK
PLC
(Company or Virgin Money)
LEI number:
213800ZK9VGCYYR6O495
ISIN: GB00BD6GN030
2 April
2024
Cancellation of Buyback
Programme
On 7 March 2024 Virgin Money
announced that it was suspending the £150m buyback programme
announced on 23 November 2023 (Buyback Programme), given the
proposed acquisition of the Company by Nationwide Building Society
(Nationwide). Following the subsequent update announced on 21 March
2024 that the boards of directors of Nationwide and the Company
have agreed the terms of a recommended cash acquisition of the
Company by Nationwide, the Company is today announcing the full
cancellation of the remaining Buyback Programme with immediate
effect.
Under the Buyback Programme, the
Company returned c.£63 million to its shareholders, with the
remaining c.£87 million fully deducted from its CET1 resources
during Q1. As a result of today's announcement, the Company expects
a CET1 ratio benefit at Q2.
This announcement does not
constitute, or form part of, an offer or solicitation of an offer
for securities in any jurisdiction.
Announcement authorised for release by Lorna
McMillan, Group Company Secretary
For further information, please
contact:
Investors and Analysts
|
|
Richard Smith
|
+44 7483 399 303
|
Head of Investor Relations &
Sustainability
|
richard.smith@virginmoney.com
|
|
|
Amil Nathwani
|
+44 7702 100 398
|
Senior Manager, Investor Relations
|
amil.nathwani@virginmoney.com
|
|
|
Martin Pollard
|
+44 7894 814 195
|
Senior Manager, Investor Relations
|
martin.pollard@virginmoney.com
|
|
|
Company Secretary
|
|
Lorna McMillan
|
07834 585436
|
Group Company Secretary
|
lorna.mcmillan@virginmoney.com
|
|
|
Media Relations
|
|
Press Office
|
0800 066 5998
|
|
press.office@virginmoney.com
|
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