TP ICAP Group plc
06 August 2026
TP ICAP Group plc
LEI: 2138006YAA7IRVKKGE63
06 August 2026
TP ICAP Group plc
Launch of seventh share buyback programme of £30 million
Following the completion of its sixth buyback programme of £80 million (the "Sixth Buyback"), TP ICAP Group plc (the "Company" or "TP ICAP") announces that it will commence a seventh share buyback programme of TP ICAP's ordinary shares of 25p each (the "Ordinary Shares") for a maximum consideration of £30 million (the "Seventh Buyback", together with the First, Second, Third, Fourth, Fifth and Sixth Buyback, the "Buybacks"), in order to reduce the capital of the Company and/or meet obligations under employee share schemes. Ordinary Shares purchased under the Seventh Buyback that are not cancelled will have their rights to dividend receipt waived by the Company.
TP ICAP is cash generative with a prudent capital management framework. The Seventh Buyback highlights the Board's continued confidence in the future prospects of TP ICAP, its strong financial delivery, operational progress and continued capital discipline. Since 2023 TP ICAP has completed or announced £260m of share buybacks.
Any Ordinary Share purchases will be made by the Company within certain pre-set parameters and in accordance with the general authority of the Company to repurchase shares granted by shareholders at the Company's Annual General Meeting held on 13 May 2026, which permits the Company to purchase no more than 74,458,935 Ordinary Shares (or 10% of the Ordinary Shares in issue at that time, excluding Treasury Shares).
The Seventh Buyback will be conducted in compliance with Chapter 9 of the Financial Conduct Authority's Listing Rules and with European Union (EU) Regulation No 596/2014 ("MAR") and the MAR buyback technical standards (Commission Delegated Regulation (EU) 2016/1052) (the "Technical Standards"), both of which form part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018.
The Company will initially rely on the safe harbour conditions for trading set out in Article 3(2) and Article 3(3) of the Technical Standards. However, if the safe harbour conditions were to constrain the Company's ability to purchase the Seventh Buyback within the targeted timeframe given, for example, share illiquidity, the Company may subsequently decide and announce its intention to trade outside of the safe harbour conditions.
The Company has entered into an agreement with Peel Hunt LLP ("Peel Hunt") under which it has issued instructions to Peel Hunt to manage the Seventh Buyback as "matched" principal". Peel Hunt will carry out the Company's instructions through the acquisition of Ordinary Shares for subsequent repurchase by the Company. This arrangement is in accordance with Chapter 9 of the FCA's Listing Rules and the Company's general authority to repurchase Ordinary Shares. Peel Hunt will make its trading decisions independently of, and uninfluenced by, the Company during any closed periods of the Company.
Peel Hunt will undertake transactions in Ordinary Shares on any available trading venue or on an over-the-counter basis in order to execute the Seventh Buyback. Disclosure of such transactions will not be made by Peel Hunt as a result of or as part of the Seventh Buyback, but Peel Hunt will continue to make any disclosures it is otherwise legally required to make.
Details of any and all purchases made under the Seventh Buyback will be provided via RNS announcements by no later than the end of the seventh daily market session following the date of execution of such purchase according to the newly-updated Listing Rule UKLR 9.6.6 and also published in the regulatory news section of the Company's website.
Forward looking statements
This document contains forward looking statements with respect to the financial condition, results and business of the Group. By their nature, forward looking statements involve risk and uncertainty and there may be subsequent variations to estimates. The Group's actual future results may differ materially from the results expressed or implied in these forward-looking statements.
Enquiries:
Group Company Secretary
Aurelia Gibbs
Email: companysecretarial@tpicap.com
Analysts and investors
Derek Brown
Email: InvestorRelations@tpicap.com
Media
Richard Newman
Email: richard.newman@tpicap.com
About TP ICAP Group plc
TP ICAP is the network at the centre of the world's most complex financial markets.
We connect market participants to liquidity, data and insight across global financial, energy and commodities markets. Through our portfolio of businesses, we help clients discover prices, manage risk, execute transactions and make informed decisions.
Sitting at the point where liquidity is formed, prices are discovered and transactions occur, TP ICAP plays a vital role in supporting well-functioning markets. The Group operates from more than 60 offices across 28 countries worldwide.
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