Paragon Banking Group Plc (LON:PAG) has announced that, as part of a review of its ongoing capital management, a further buy-back programme of up to £50.0 million for the 2026 financial year has been authorised by the Company’s Board. The buy-back programme will commence today and is expected to end no later than 30 September 2026, subject to market conditions.
The purpose of the buy-back programme is to reduce the capital of the Company.
The Group was granted the general authority to undertake on-market share buy-backs, up to 19,200,000 ordinary shares, at the Company’s AGM on 4 March 2026. The buy-back programme will be carried out under that authority.
The Group has entered into an arrangement with Peel Hunt to effect the buy-back programme. Any purchases made under the buy-back programme will be announced through the Regulatory News Service of the London Stock Exchange and the acquired shares will initially be held in treasury. However, there is no guarantee that the buy-back programme will be implemented in full or that any shares will be bought back by the Company.
The buy-back programme will be effected in compliance with Market Abuse Regulation 596/2014 (as it forms part of UK law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended)) (UK MAR) and Chapter 9 of the Listing Rules.
