Following the completion of its fifth buyback programme of £30 million, TP ICAP Group plc announced today that it will commence a sixth share buyback programme of TP ICAP’s ordinary shares of 25p each for a maximum consideration of £80 million.

The aim of the latest share buyback is to reduce the capital of the Company and/or meet obligations under employee share schemes.

Ordinary Shares purchased under the Sixth Buyback that are not cancelled will have their rights to dividend receipt waived by the company.

The buyback includes £50 million from TP ICAP’s legal entities rationalisation programme, delivered ahead of schedule. Since 2023 TP ICAP has completed or announced £230m 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 14 May 2025, which permits the Company to purchase no more than 75,253,839 Ordinary Shares (or 10% of the Ordinary Shares in issue at that time, excluding Treasury Shares).

The Company has entered into an agreement with Peel Hunt LLP under which it has issued instructions to Peel Hunt to manage the Sixth 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.