News
release
QinetiQ Group
plc
Commencement of Third Tranche
of Buyback Programme
3
February 2025 - QinetiQ Group plc
("QinetiQ" or the "Group") confirms the completion by Numis
Securities Limited ("Deutsche Numis") of the second tranche of its
£100 million share buyback programme (the "Programme") announced on
16 January 2024. As announced on 14 November 2024, QinetiQ is
extending the Programme by £50m to deliver increased shareholder
returns.
QinetiQ has today entered into an
agreement with Deutsche Numis to extend the Programme through the
execution of a third tranche ("the Third Tranche) with a maximum
aggregate value of up to £50 million. Under the Third Tranche,
which is expected to complete by no later than 30 June 2025,
Deutsche Numis will make trading decisions independently of QinetiQ
in accordance with certain pre-set parameters. The Third Tranche
will be effected under the authority granted by shareholders at
QinetiQ's Annual General Meeting held on 18 July 2024, and the
maximum remaining number of shares that may be repurchased under
the Third Tranche pursuant to that authority is 42,778,600 Ordinary
Shares.
Any purchases under 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 the Buyback
Authority, Chapter 12 of the UK Financial Conduct Authority's
Listing Rules, and Regulation (EU) No 596/2014 and Commission
Delegated Regulation (EU) No 2016/1052 (both as they form part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018), including where relevant pursuant to the UK Market Abuse
(Amendment) (EU Exit) Regulations 2019.
Any Ordinary Shares purchased
pursuant to the Programme will be cancelled, and the number of
Ordinary Shares in issue reduced accordingly.
About QinetiQ
QinetiQ is an integrated global
defence and security company focused on mission-led innovation.
QinetiQ employs circa 8,500 highly-skilled people, committed to
creating new ways of protecting what matters most; testing
technologies, systems, and processes to make sure they meet
operational needs; and enabling customers to deploy new and
enhanced capabilities with the assurance they will deliver the
performance required.
For
further information please contact:
Stephen Lamacraft, Group Interim
Director Investor
Relations:
+44 (0) 7471 885817
Lindsay Walls, Group Communications
Director (Media
enquiries):
+44 (0) 7793 427582
James Field, Company
Secretary:
+44 (0) 7841 662957
