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Man Group (EMG) climbs after $250m share buyback announcement

By Neil Dennis

11:40, 8 December 2021

Man Group logo
First tranche of buyback to last a year – Photo: Shutterstock

Shares in Man Group, the UK fund manager, topped the FTSE 250 on Wednesday after announcing the launch of a $250m (£189.4m) share buyback programme.

Man Group shares were up 5.5% at 227.6p in late morning trade on the London Stock Exchange.

The company, with around $120bn in funds under management, said it would commence the first tranche of the buyback by repurchasing up to $125m worth of shares.

Capital distribution policy

The company said in a statement: “The programme is in line with the company’s policy to distribute capital to shareholders while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities.”

The programme will run from 8 December through to 7 December next year, with a maximum of 96,009,523 shares to be repurchased.

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Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 2.2


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Short position overnight fee 0.0042%
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Spread 5.0


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-0.270% 1D Chg, %
Long position overnight fee -0.0220%
Short position overnight fee -0.0002%
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Spread 1.5


15,719.80 Price
-1.810% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8

Share option programme

The company said that the aim of the buyback was to reduce its share capital and to enable it to meet its obligations to its employee share option programmes and other allocations of shares to company stakeholders.

Repurchases are to be conducted in open market transactions, made from time to time – depending on market conditions, share price and trading volumes.

Man said it had appointed JPMorgan Securities to manage the scheme and repurchase the required shares on its behalf.

Read more: Share buybacks roar back – but how good an idea are they?

Markets in this article

Man Group
2.139 USD
0.002 +0.090%
Man Group
2.139 USD
0.002 +0.090%

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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