INITIAL TRANCHE OF 2025 SHARE
BUYBACK
6 January
2025
Balfour Beatty, the international
infrastructure group, today announces that, further to its trading
update announcement on 5 December 2024, it has appointed its
corporate brokers to manage an initial tranche of its 2025 share
buyback programme and to repurchase Ordinary Shares on its behalf
up to a maximum aggregate consideration of £50 million,
intended to be completed by 30 June 2025.
The total anticipated 2025 share
buyback will be confirmed at the Group's full year results in
March.
In advance of moving into any closed
periods, including ahead of its 2024 full year results, Balfour
Beatty will enter into irrevocable commitments with its corporate
brokers to execute the share buyback through non-discretionary
programmes repurchasing shares within certain pre-set parameters,
with the corporate brokers making their trading decisions
independently of, and uninfluenced by, Balfour Beatty.
Share purchases will take place in
open market transactions and may be made from time to time
depending on market conditions, share price and trading
volume. The purpose of the share buyback is to reduce the
share capital of Balfour Beatty, with the purchased shares to
be held in treasury.
The maximum number of shares to be
purchased is 67,269,533 Ordinary Shares (which is the balance of
the shareholder authority given at the 2024 AGM). The Group
confirms that it currently has no other unpublished price sensitive
information.
The Group will make further
regulatory announcements to shareholders in respect of purchases of
Ordinary Shares by the Group after they occur.
Investor and analyst enquiries:
Jim Ryan
Tel. +44 (0) 7858 368527
jim.ryan@balfourbeatty.com
Media enquiries:
Antonia Walton
Tel. +44 (0) 7966 929
633
antonia.walton@balfourbeatty.com
Notes to editors:
·
Balfour Beatty is a leading international
infrastructure group with over 26,000 employees driving the
delivery of powerful new solutions, shaping thinking, creating
skylines and inspiring a new generation of talent to be the
change-makers of tomorrow.
·
We finance, develop, build, maintain and operate
the increasingly complex and critical infrastructure that supports
national economies and deliver projects at the heart of local
communities.
·
Over the last 115 years we have created iconic
buildings and infrastructure all over the world. Currently, we are
working to deliver Hinkley Point C, the first UK nuclear
power station in a generation; constructing the world-class arts
and cultural facility, the Lyric Theatre, in Hong Kong; and
designing, building, financing, operating and maintaining the
Automated People Mover superstructure at the fifth busiest airport
in the world, Los Angeles International
Airport.
Legal Entity Identifier:
CT4UIJ3TUKGYYHMENQ17