Intention to Launch Share Buyback Programme

CMC today announces its intention to launch a share buyback programme (the “Buyback Programme”).

CMC today announces its intention to launch a share buyback programme (the “Buyback Programme”).

In light of the Company’s robust capital position and having considered the ongoing investment in the business, the Board has decided to return excess capital to shareholders via the repurchase of ordinary shares up to an aggregate purchase price of £30 million, subject to continuing regulatory approval.

The Buyback Programme should be considered as part of a normal balanced approach to shareholder returns alongside the current dividend policy, which is unchanged. Previously stated full year guidance is also unchanged.

A further announcement containing more detailed information regarding the share buyback will be released before the start of any dealing under the Buyback Programme.