CVS Group plans move to Main Market and £20 million share buyback

Investing.com -- CVS Group Plc (LON:CVSG), a leading UK veterinary services provider, said on Friday that it plans to move from AIM to the Main Market of the London Stock Exchange and launch a £20 million share buyback program.

The company, which has been listed on AIM since October 2007, expects the transition to the Main Market to occur in early Q1 2026, subject to FCA approval. The move aims to provide access to deeper capital pools, potential index inclusion, improved trading liquidity, and enhanced corporate profile.

CVS Group will not raise additional funds in connection with the admission, and shareholder approval is not expected to be required for the transition.

The £20 million share buyback program announced alongside the market move is expected to be completed in Q1 2026. All repurchased shares will be cancelled.

The company reported leverage of 1.18x as of June 30, 2025, well below its target of 2.0x, giving it significant headroom under its committed facilities while maintaining capacity for its acquisition pipeline, particularly in Australia.

David Wilton, Chair of CVS Group, said: "The Board has reached the decision to move up to the Main Market after carefully considering the merits and potential demerits of such move and evaluating the process involved. We believe it is, as a listed company, in CVS’s best interest to do so."

The announcement follows the CMA’s provisional decision report published on October 15, 2025, and positive momentum in like-for-like sales performance from Q4 FY2025 that has continued into Q1 FY2026.

CVS Group currently operates approximately 470 veterinary practices across the UK and Australia, including specialist referral hospitals and dedicated out-of-hours sites. The group employs around 8,900 personnel, including 2,400 veterinary surgeons and 3,300 nurses.