Centrica Plc (CNA.L, CPYYY), a British energy and services company, on Monday announced the launch of the second and final 250 million pounds tranche of the 2025 Extension.
The company said that the 2025 Extension aims to reduce its capital.
The repurchases under the second tranche will commence on September 22 and will end no later than January 16, 2026.
The tranche targets up to a maximum consideration of 250 million pounds, representing approximately 3% of the company's issued share capital based on the closing share price on September 19.
The company will execute the purchases on the London Stock Exchange and/or other trading venues for subsequent acquisition by the company.
The maximum number of ordinary shares that may be bought under the second tranche is 503,096,162, as authorized by shareholders at the company's Annual General Meeting on May 8.
In its 2024 preliminary results on February 20, the company announced a 500 million pounds extension of its share buyback programme, increasing the total programme to 2 billion pounds.
Following the completion of the first 250 million pounds tranche on September 19, the company has now moved to the next tranche of the programme.
Centrica is currently trading 0.54% higher at 167.80 pence on the London Stock Exchange.
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