Computacenter plc
Incorporated in England
Registration number:
03110569
LEI: 549300XSXUZ1I19DB105
ISIN: GB00BV9FP302
Computacenter
plc
Share Buyback Programme - 26
July 2024
Computacenter ("the Company")
announces that, beginning on 26 July 2024, it is commencing a share
buyback programme ("the Programme") to repurchase up to
11,414,110 of its ordinary shares (the
Shares).
The maximum amount allocated to the
Programme is £200 million, and the Company will make appropriate
disclosures during the buyback period (which shall end on or before
30 June 2025) of the number of Shares it has repurchased. The sole
purpose of the Programme is to reduce the Company's share
capital.
This commencement of the Programme
is in line with our capital allocation policy. Whilst the Company
has received no indications at this stage, in line with the
approach taken on previous returns of value, Directors may
undertake disposals of shares during the course of the
Programme.
The programme will be carried out
through a non-discretionary agreement with J.P. Morgan Securities
plc ("J.P. Morgan"), pursuant to which J.P. Morgan shall purchase
ordinary shares as riskless principal (and not as agent of the
Company) for the subsequent sale on to, and purchase by, the
Company. J.P. Morgan will make its trading decisions in relation to
the ordinary shares independently of, and uninfluenced by, the
Company.
This arrangement is in accordance
with Chapter 12 of the FCA Listing Rules and the Company's general
authority to repurchase shares.
The Company currently holds
8,546,861 Shares as treasury shares (against the Investment
Association's Share Capital Management Guidelines preference that a
listed company does not hold more than 10 per cent. of its issued
share capital in treasury). From the Shares to be purchased under
the Programme, it is expected that no more than 2,867,249 Shares will be held in treasury, with the
remaining Shares purchased under the Programme expected to be
cancelled. The Ordinary Shares that are held in treasury will not
rank for any future dividends and no voting rights will be
exercised in respect of such Ordinary Shares.
Enquiries:
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Computacenter plc
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Mike Norris, CEO
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+44 (0) 1707 631 601
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Chris Jehle, CFO
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+44 (0) 1707 631 346
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Christian Cowley, Investor
Relations
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+44 (0) 1707 631 132
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Teneo
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James Macey White / Matt
Low
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+44 (0) 207 353 4200
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About Computacenter:
Computacenter is a leading
independent technology and services provider, trusted by large
corporate and public sector organisations. We are a responsible
business that believes in winning together for our people and our
planet. We help our customers to Source, Transform and Manage their
technology infrastructure to deliver digital transformation,
enabling people and their business. Computacenter is a public
company quoted on the London FTSE 250 (CCC.L) and employs over
20,000 people worldwide.
More information can be found
at www.computacenter.com