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LONDON - Man Group (LON:EMG) plc, a leading investment management firm, announced it will initiate a share buyback program for up to $100 million. The company has engaged Goldman Sachs International to manage the buyback process within specified parameters.
The program, starting from March 3, 2025, and lasting until March 3, 2026, aims to repurchase a maximum of 109,827,230 shares. This number represents the total shares Man Group is authorized to buy back following the approval granted at the 2024 Annual General Meeting (AGM), minus the shares already purchased under that authority.
The buyback aligns with Man Group’s policy to return capital to shareholders while maintaining a solid balance sheet that accounts for necessary capital and potential strategic opportunities. The repurchased shares will serve to reduce the company’s share capital and fulfill obligations related to employee share option programs, as well as other share allocations to employees or associates of the company.
The execution of this share buyback program is consistent with the general authority conferred by shareholders at the 2024 AGM. It will be conducted in compliance with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, as well as the UK Listing Rules Chapter 12, which incorporates these regulations into UK law post-Brexit.
Man Group also plans to seek further shareholder approval at the 2025 AGM to renew its authority to repurchase shares, which is anticipated to represent approximately 10% of the company’s ordinary share capital, excluding treasury shares.
This share buyback program is expected to be carried out independently of the company during any closed periods, ensuring compliance with market abuse regulations. The information is based on a press release statement from Man Group plc.
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