2023 SHARE BUYBACK
20 March 2023
Balfour Beatty, the international infrastructure group, today announces that, further to the release of its full year results on 15 March 2023 it intends to repurchase up to a maximum aggregate consideration of £150 million of Ordinary Shares during the 2023 phase of the share buyback programme (the 'Share Buyback') (inclusive of the initial tranche of the 2023 share buyback of £50 million announced on 3 January 2023), which is intended to be completed before 31 December 2023.
The purpose of the share buyback is to reduce the share capital of Balfour Beatty, with the purchased shares to be held in treasury.
The maximum number of shares to be purchased under the Share Buyback is 86,073,630 Ordinary Shares (which is subject to shareholder authority given at the 2023 AGM). The Group confirms that it currently has no unpublished price sensitive information.
The Group will make further regulatory announcements to shareholders in respect of purchases of Ordinary Shares by the Group after they occur.
Investor and analyst enquiries:
Jim Ryan
Tel. +44 (0) 7858 368527
Media enquiries:
Antonia Walton
Tel. +44 (0) 7966 929 633
antonia.walton@balfourbeatty.com
Notes to editors:
· Balfour Beatty is a leading international infrastructure group with 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.
· We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
· Over the last 113 years we have created iconic buildings and infrastructure all over the world including: the £1.5 billion A14 improvement scheme - Britain's biggest road project; Hong Kong's HK$5.5 billion world-class harbour theatre project for the West Kowloon Cultural District Authority; and the 12.5 mile $429 million North Metro Commuter Rail line in Colorado, US.
Legal Entity Identifier: CT4UIJ3TUKGYYHMENQ17
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