11 August 2022
ROBERT WALTERS PLC
(the 'Company' or the 'Group')
Commencement of Share Buyback Programme
Further to the Company's announcement dated 28 July 2022, the Company confirms the commencement of a share buyback programme (the "Programme") to purchase ordinary shares of 20 pence each in the Company ("Ordinary Shares") with an aggregate value of up to £10 million.
The purpose of the Programme is to reduce the Company's share capital and it is intended that Ordinary Shares purchased shall be cancelled. The Programme is expected to commence today and will end at the earlier of the conclusion of the Company's 2023 Annual General Meeting and 30 June 2023.
The Group will seek to make market purchases of Ordinary Shares a price or prices that the Group believes will be good value for shareholders. In view of the level of trading liquidity in the Company's Ordinary Shares, the Group may make purchases in excess of the price and volume restrictions set out in Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018), subject to prevailing market conditions and liquidity.
Any purchases of Ordinary Shares by the Company in relation to the Programme will be conducted in accordance with the Company's general authority to repurchase Ordinary Shares granted by its shareholders at the Annual General Meeting held on 28 April 2022 (the "General Authority"), any further approvals to purchase shares as may be granted by its shareholders from time to time, and Chapter 12 of the Listing Rules. Under the General Authority, the Company is permitted to make purchases of up to 7,669,939 Ordinary Shares.
The Company has entered into an irrevocable, non-discretionary instruction with Investec Bank plc ("Investec") to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company.
The Company will make further announcements in due course following the completion of any repurchases. There is no guarantee that the Share Buyback will be implemented in full or that any Ordinary Shares will be repurchased by the Company.
At the time of this announcement, the Company's issued share capital consists of 80,945,360 Ordinary Shares, of which 4,074,000 Ordinary Shares are held in treasury, and the total number of voting rights in the Company is therefore 76,871,360.
- Ends -
Further information:
| Robert Walters plc Robert Walters, Chief Executive Alan Bannatyne, Chief Financial Officer
| +44 20 7379 3333 |
| Williams Nicolson Steffan Williams
| +44 7767 345 563 |
About Robert Walters Group
The Robert Walters Group is a market-leading international specialist professional recruitment group with over 4,000 staff spanning 32 countries. We specialise in the placement of the highest calibre professionals across the disciplines of accountancy and finance, banking, engineering, HR, healthcare, IT, legal, sales, marketing, secretarial and support and supply chain, logistics and procurement. Our client base ranges from the world's leading blue-chip corporates and financial services organisations through to SMEs and start-ups. The Group's outsourcing division, Resource Solutions is a market leader in recruitment process outsourcing and managed services.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
