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
+44 203 124 4415
Gregory Franck, Investor Relations
Director
investor.relations@group.landg.com
Media
+44 738 443 5692
Natalie Whitty, Group Corporate
Affairs Director
natalie.whitty@group.landg.com
+44 20 3805 4822
Lucy Legh / Nigel Prideaux, Headland
Consultancy
LandG@headlandconsultancy.com
