| Legal & General Group Plc 13 March 2025 |
Commencement of Share Buyback
Legal & General Group Plc ("the Company") ("L&G") announces that it will today commence a share buyback programme for up to a maximum consideration of £500m (the "Programme"), as announced on 12 March 2025.
The Company has entered into a non-discretionary agreement with Barclays Capital Securities Limited ("Barclays") to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company. Shares acquired by Barclays under the agreement will be purchased by Barclays as riskless principal for subsequent repurchase by the Company. All shares repurchased under the Programme will be cancelled. The purpose of the Programme is therefore to reduce the Company's share capital.
Any purchase of the Company's ordinary shares contemplated by this announcement will be executed in accordance with the Company's general authority to repurchase ordinary shares granted by its shareholders on 23 May 2024, the UK Market Abuse Regulation, the Companies Act 2006, and Chapter 12 of the Financial Conduct Authority's Listing Rules. The maximum number of shares to be acquired under the Programme is 509,136,022, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the AGM on 23 May 2024, less the shares acquired by the Company pursuant to the share buyback programme announced by the Company on 13 June 2024 which completed on 8 November 2024. The Programme will end no later than 12 September 2025.
-ENDS-
Notes to editors
About L&G
Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 12 March 2025, L&G has a market capitalisation of £14.1 billion.
Further information
Name: Michelle Moore
Role: Group Strategy & Investor Relations Director
Tel: +44 203 124 2091
Email: investor.relations@group.landg.com
Name: Gregory Franck
Role: Investor Relations Director
Tel: +44 203 124 4415
Email: investor.relations@group.landg.com
Name: Natalie Whitty
Role: Group Corporate Affairs Director
Tel: +44 738 443 5692
Email: natalie.whitty@group.landg.com
Name: Lucy Legh / Nigel Prideaux
Role: External Consultants, Headland Consultancy
Tel: +44 20 3805 4822