Genus plc (LSE:GNS) announced the launch of a share buyback programme authorizing the repurchase of up to £60 million of its ordinary shares. The programme commenced on Wednesday and is expected to conclude in the second half of the company's fiscal year 2027.
All shares purchased under the programme will be cancelled, reducing the company's capital base. Genus entered into a non-discretionary agreement with J.P. Morgan Securities plc to execute the buyback. J.P. Morgan will purchase shares as a riskless principal within pre-set parameters established by the company, and the agreement permits purchases to continue independently during periods when the company would normally be restricted from trading.
The buyback is being conducted under the company's general authority to repurchase shares previously granted by shareholders and complies with Chapter 9 of the Financial Conduct Authority's UK Listing Rules as well as the Market Abuse Regulation, which forms part of UK domestic law. The programme is subject to termination if Genus loses the necessary shareholder authority.
