C&C Group plc has announced the purchase of its own ordinary shares on the London Stock Exchange from J&E Davy. The company bought 100,000 ordinary shares at prices ranging from 169.00p to 172.40p, with a volume-weighted average price of 171.66p. These shares will be cancelled as part of C&C's intention to buy back ordinary shares of a total value of up to €15 million in the period up to 30 June 2024.
The buyback program was formally commenced on 1 March 2024 and is in line with the company's strategy to manage its capital structure and return excess cash to shareholders. Following the settlement of these transactions and the subsequent share cancellation, C&C will have 388,934,991 ordinary shares in issue, excluding treasury shares.
The detailed breakdown of individual trades made by J&E Davy as riskless principal on behalf of C&C on the London Stock Exchange as part of the Buyback Programme for subsequent repurchase by the Company is scheduled to this announcement. The contact person for this announcement is Mark Chilton, the Company Secretary and General Counsel.
The company's LEI is 635400LNUHA2LDXXV850, and the ISIN is IE00B010DT83. The intermediary involved in the transaction is J&E Davy, with the intermediary code DAVYIE21. The transactions were conducted in the GMT time zone and the currency used was GBp.
This announcement provides a transparent insight into C&C Group plc's recent share buyback activities, demonstrating the company's commitment to its capital management strategy and returning value to its shareholders.