REG - Rolls-Royce Holdings - Share buyback programme of up to £1 billion

Rolls-Royce HoldingsAnnouncement

27/02/2025 07:15

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RNS Number : 6257Y  Rolls-Royce Holdings plc  27 February 2025

27 February 2025  7:05am

 

Rolls-Royce Holdings plc

 

SHARE BUYBACK PROGRAMME OF UP TO £1 BILLION

 

Rolls-Royce Holdings plc (the Company) announces that it will commence a share
buyback programme to return up to £1 billion to shareholders (the Programme).
The Programme, which will be executed in tranches, will commence today and is
expected to complete no later than 31 December 2025.

 

The Company has entered into a non-discretionary agreement (Agreement) with
UBS AG London Branch (UBS) to undertake the Programme on its behalf by making
market purchases, as riskless principal, of the Company's ordinary shares of
20p each (the Shares) on the London Stock Exchange or another recognised
investment exchange. UBS will make trading decisions under the Programme
independently of the Company, subject to certain parameters agreed between UBS
and the Company prior to the commencement of the Programme and to the
Company's right to terminate the Agreement in certain limited circumstances.

 

Shares acquired by UBS under the Agreement will be sold on to the Company and
will either be cancelled or used for the purpose of satisfying awards under
the Company's employee share plans. The purpose of the Programme is therefore
to reduce the Company's share capital and to meet obligations arising from its
employee share plans. The maximum number of Shares that may be acquired under
the Programme, as authorised by shareholders at the Company's 2024 Annual
General Meeting on 23 May 2024, is 841,669,698. The Programme is expected to
complete by no later than 31 December 2025.

 

Any purchase of Shares under the Programme will be executed in accordance with
the Company's general authority(1) to repurchase Shares granted at its 2024
Annual General Meeting and any subsequent authority, Market Abuse Regulation
596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (both as
incorporated into UK domestic law by the European Union (Withdrawal) Act
2018), and Chapter 9 of the Financial Conduct Authority's UK Listing Rules.

 

Repurchases of Shares under the Programme will be announced no later than 7.30
a.m. on the business day following the calendar day on which the repurchase
occurred.

 

(1) The existing authority to buy back Shares granted at the Company's 2024
Annual General Meeting will expire at the earlier of 30 June 2025 or the
Company's 2025 Annual General Meeting, where the Company expects to seek
renewal of that authority.

 

For further information, please contact:

 

Investors:

Jeremy Bragg

Head of Investor Relations, Rolls-Royce plc

Tel +44 (0) 7795 840875

Jeremy.Bragg@Rolls-Royce.com (mailto:Jeremy.Bragg@Rolls-Royce.com)

 

 

Media:

Richard Wray

Director of External Communications & Brand, Rolls-Royce plc

Tel +44 (0) 7810 850055

Richard.Wray@Rolls-Royce.com (mailto:Richard.Wray@Rolls-Royce.com)

 

About Rolls-Royce Holdings plc

1.   Rolls-Royce is a force for progress; powering, protecting and
connecting people everywhere. Our products and service packages help our
customers meet the growing need for power across multiple industries; enable
governments to equip their armed forces with the power required to protect
their citizens; and connect people, societies, cultures and economies
together.

2.   Rolls-Royce has a local presence in 48 countries and customers in over
a hundred more, including airlines and aircraft leasing companies, armed
forces and navies, and marine and industrial customers.

3.   Through our multi-year transformation programme, we are building a
high-performing, competitive, resilient and growing Rolls-Royce. We are
building the financial capacity and agility to allow us to successfully
develop and deliver the products that will support our customers through the
energy transition.

4.   Annual underlying revenue was £17.8 billion in 2024, and underlying
operating profit was £2.46 billion.

5.   Rolls-Royce Holdings plc is a publicly traded company (LSE: RR., ADR:
RYCEY, LEI: 213800EC7997ZBLZJH69)

 

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