Lloyds Banking Group plc (LON:LLOY) has today confirmed that the Company’s share buyback programme announced on 23 February 2023 was completed in accordance with its terms. The programme was managed by UBS AG, London Branch. In total between 23 February 2023 and 25 August 2023, the Company repurchased 4,386,262,707 ordinary shares for an aggregate consideration of £2.0 billion.
On 23 February 2023, Lloyds Banking Group announced that it had entered into an agreement with UBS AG, London Branch to conduct the share buyback programme on its behalf and to make trading decisions under the programme independently of the Company. Under the terms of the programme, the maximum consideration was £2 billion. The programme commenced on 23 February 2023 and was to end no later than 29 December 2023. The sole purpose of the programme is to reduce the ordinary share capital of the Company.
