Funding Circle Plc Announces Share Buyback and Cancellation

Funding Circle Holdings plc, on 18 March 2024, disclosed a transaction involving the repurchase of its own ordinary shares. The shares, bought from Numis Securities Limited, are part of a buyback initiative announced earlier on 7 March 2024. A total of 216,855 ordinary shares valued at £0.001 each, were acquired on the London Stock Exchange. The purchase saw shares bought at prices ranging from 47.40p to 48.50p, with an average price of 48.0962p.

The company plans to cancel all of the acquired shares, leading to a reduction in the issued share capital to 360,354,337 ordinary shares. This action implies no shares will be held in treasury, altering the share structure for current and potential investors. The disclosed figure serves as a basis for shareholders to comply with the FCA's Disclosure Guidance and Transparency Rules regarding shareholding notifications.

Funding Circle has provided detailed information on the transactions, including the volume-weighted average prices and the specific details of individual trades. This move is expected to influence the company's stock performance and shareholder value.