Rightmove Plc - Statement re Share Buyback Programme
PR Newswire
LONDON, United Kingdom, July 31
Rightmove plc
Share Buyback Programme
Announcement of Share Buyback Programme
Rightmove plc ("Rightmove" or the "Company"), the UK's no. 1 property website, announces that effective from Monday 3 August 2026 it is commencing a share repurchase programme of its ordinary shares of 0.1 pence each ("Ordinary Shares") up to a maximum aggregate consideration of up to £350 million (the "Programme"). The Programme is in line with Rightmove's capital allocation policy, and its purpose is to return surplus capital to shareholders and reduce the Company's share capital. Rightmove expects to return over £400m to shareholders by 31 July 2027, including share buybacks of c.£330m. As such, all Ordinary shares repurchased under the Programme will be cancelled.
The Programme will be effected under the authority granted by shareholders at the Company's 2026 Annual General Meeting to purchase a maximum of 76,028,890 Ordinary Shares, taking into account the Company's previous share buyback activity.
Any purchases of Ordinary Shares by the Company under the Programme will be carried out in accordance with the parameters prescribed by the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and UKLA 9 of the UK Listing Rules.
The maximum price paid per Ordinary Share will be no more than an amount equal to 105 per cent of the average middle market quotations for an Ordinary Share, as derived from the London Stock Exchange Daily Official List, for the five business days immediately preceding the day on which the Ordinary Share is purchased. The minimum price that may be paid is 0.1 pence per share. The Company may repurchase up to 25% of the average daily volume.
Rightmove has entered into agreements with Peel Hunt LLP ("Peel Hunt") and UBS AG London Branch ("UBS") to purchase the Company's Ordinary Shares under the Programme. Rightmove retains the right to suspend, terminate, or alter the parameters of the buyback program at its absolute discretion and Peel Hunt and UBS will execute orders at the direction of Rightmove, subject to the limits as described above.
Rightmove will make further regulatory announcements in respect of repurchases of Ordinary Shares as required by UK MAR and the UK Listing Rules.
Carolyn Pollard
Group Company Secretary
Enquiries:
Investor Relations investor.relations@rightmove.co.uk
Sodali rightmove@sodali.com
