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Transaction in Own Shares

1st Jul 2025 07:00

RNS Number : 0579P
Sabre Insurance Group PLC
01 July 2025
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

 

 

1 July 2025

 

Sabre Insurance Group plc

 

On-market Share Buyback Programme of £5m

 

Sabre Insurance Group plc (the "Group", the "Company" or "Sabre"), one of the UK's leading motor insurance underwriters, announces its intention to launch an on-market share buyback programme to return £5m to shareholders (the "Buyback Programme").

 

Further to the Group's proposal to launch a £5m share buyback programme which was included in the Group's results announcement in March 2025, the board has received regulatory approval to proceed. Having reviewed the Group's strong performance and ongoing capital requirements, the Board has concluded that an on-market share buyback programme for up to a maximum aggregate consideration of £5m (excluding stamp duty and expenses) remains appropriate and a value-enhancing use of cash, while maintaining the Group's financial flexibility to invest in its strategy. The purpose of this buyback programme is to return surplus capital to shareholders and reduce the Group's share capital, whilst maintaining the financial flexibility to invest in the ongoing execution of our strategy. Accordingly, any ordinary shares purchased are expected to be cancelled.

 

Details of the Buyback Programme

Sabre has entered into an irrevocable instruction with Panmure Liberum, pursuant to which Panmure Liberum will purchase the Company's ordinary shares of £0.001 each ("Ordinary Shares") for up to a maximum consideration of £5m. The Buyback Programme will commence immediately and it is anticipated it will end no later than 31 December 2025, subject to market conditions. The maximum number of Ordinary Shares that can be purchased (always subject to the aggregate maximum consideration of £5m (excluding stamp duty and expenses)) is 25,000,000, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2025 Annual General Meeting (the "2025 AGM"). Panmure Liberum will make its trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Company, within the terms and pre-set parameters of the Buyback Programme.

 

Any purchase of Ordinary Shares under the Buyback will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes. The Buyback will be effected under the general authority to repurchase Ordinary Shares granted by the Company's shareholders at the 2025 AGM, and in accordance with Chapter 12 of the UK Financial Conduct Authority's Listing Rules, and Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052 (both as they form part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018), including where relevant pursuant to the UK Market Abuse Regulation.

 

Any purchase of Ordinary Shares pursuant to the Buyback will be announced by not later than 07:30 on the business day following the calendar day on which the purchase occurred. The Company will make further announcements in due course following the completion of any repurchases. There is no guarantee that the Buyback will be implemented in full or that any Ordinary Shares will be repurchased by the Company.

 

 

For further information, please contact:

 

Investor enquiries

01306 747 272

Sabre Insurance Group plc

[email protected]

Geoff Carter / Adam Westwood

 

 

Media enquiries

020 7260 2700

Teneo

[email protected]

James Macey White / Ffion Dash

 

LEI Code: 2138006RXRQ8P8VKGV98

 

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