1 April 2025
Mitie Group plc
LEI number: 213800MTCLTKEHWZMJ03
Completion of £100m Share Buyback Programme
Details of new programme to be announced in FY25 Trading Update
Mitie Group plc ("Mitie" or "the Group") announces that it has completed its FY25 share buyback programme ("Share Buyback Programme"), initially announced on 15 April 2024 and doubled from £50m to £100m on 24 July 2024.
Over the duration of the FY25 Share Buyback Programme, the Group spent £100m purchasing a total of 89m ordinary shares of 2.5p each at an average price of 112p[1], of which 79m shares (representing c.6% of the Group's issued share capital) have been cancelled.
The remaining 10m shares were purchased to satisfy awards vesting under the Group's 2021 SAYE scheme in February 2025, for which the Group has received proceeds of c.£4m arising upon the exercise to date of these awards (being the discounted option price paid by employees).
In total, over the past three years, the Group has purchased 216m shares through share buyback programmes, at a net cost of £200m and average price of c.93p, of which 174m shares (representing c.12% of the Group's issued share capital) have been cancelled.
The Group will provide an update on its proactive capital deployment policy, including details of the new FY26 Share Buyback Programme, in its FY25 Trading Update on 16 April 2025.
For further information
| Kate Heseltine Group IR and Corporate Finance Director
| M: +44 (0)738 443 9112 | |
| Claire Lovegrove Director of Corporate Affairs | M: +44 (0)790 027 6400
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| Emma Burdett H/Advisers Maitland | M: +44 (0)797 331 9593 | |
About Mitie: "Better places; Thriving Communities"
Founded in 1987, Mitie employs 72,000 colleagues and is the leading technology-led Facilities Transformation company in the UK. We are a trusted partner to around 3,000 blue chip customers across the public and private sectors, working with them to transform their built estates, and the lived experience for their colleagues and customers, as well as providing data-driven insights to inform better decision-making.
In each of our core services of engineering (hard services) and security and hygiene (soft services) we hold market leadership positions. We also deliver projects capabilities in the areas of power and grid connections, building fit outs & modernisation, decarbonisation, fire & security, and telecoms infrastructure. Our sector expertise includes central government, critical national infrastructure, defence, financial services, healthcare & life sciences, local government & education, retail & logistics and transport & aviation.
We hold industry-leading ESG credentials, including a place on the CDP Climate change A List, and we have received multiple industry awards recently including B2B Marketing Team of the Year, Best Low Carbon Solution and Net Zero Carbon Strategy of the year. Targeting Net Zero by the end of 2025, our ambitious emissions reduction plans have been validated by the Science Based Targets initiative (SBTi). We have been recognised as a UK Top Employer for the seventh consecutive year and Most Admired Company in the Support Services sector. Find out more at www.mitie.com.
[1] Inclusive of c.£4m discounted option price proceeds from the 2021 SAYE scheme shares that have been exercised to date. These proceeds have been reinvested into the £100m share buyback programme.
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