D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
LONDON - Lloyds Banking Group (LON:LLOY) plc announced the launch of a share buyback programme, aiming to repurchase up to £1.7 billion of its ordinary shares. The programme, which was first mentioned on February 20, 2025, began on February 21, 2025, and is set to conclude by the end of the year on December 31, 2025.
The buyback initiative is part of the company’s strategy to reduce its ordinary share capital. To facilitate the repurchase, Lloyds Banking Group has engaged Morgan Stanley & Co (NYSE:MS). International plc as the broker to independently make trading decisions and conduct the programme on its behalf.
The repurchase terms are aligned with the general authority granted by shareholders at the annual general meeting on May 16, 2024, which allows the company to buy back a maximum of 6,377,679,127 of its ordinary shares. These actions will comply with relevant regulations, including the EU Market Abuse Regulation and the Financial Conduct Authority’s Listing Rules, as assimilated into UK law following Brexit.
Lloyds Banking Group intends to cancel the shares it acquires through this programme. However, it is important to note that the buyback will not include any repurchases in the United States or of the company’s American Depositary Receipts. Moreover, the execution of the buyback is subject to ongoing approval by the Prudential (LON:PRU) Regulatory Authority.
This share buyback programme reflects the company’s financial strategies and is based on a press release statement. It is not an offer of securities or financial instruments, nor does it constitute advice or a recommendation regarding any securities or financial instruments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.