{"id":9998,"date":"2026-11-05T14:01:40","date_gmt":"2026-11-05T14:01:40","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/05\/airtel-africa-commences-tranche-2-of-share-buyback-programme-businessday-ng-2\/"},"modified":"2026-11-05T14:01:40","modified_gmt":"2026-11-05T14:01:40","slug":"airtel-africa-commences-tranche-2-of-share-buyback-programme-businessday-ng-2","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/05\/airtel-africa-commences-tranche-2-of-share-buyback-programme-businessday-ng-2\/","title":{"rendered":"Airtel Africa commences tranche 2 of share buyback programme – Businessday NG"},"content":{"rendered":"

Airtel Africa Plc has commenced the next tranche of the share buyback programme originally announced on May 22.\n<\/p>\n

The Programme continues the Company\u2019s broader approach to returning cash to shareholders as part of its capital allocation policy.\n<\/p>\n

As previously announced, the Company\u2019s share buyback programme provides for the repurchase of up to 1 percent of the Company\u2019s issued share capital as at May 22, 2026, being the date on which the Programme wasannounced.\n<\/p>\n

Following completion of the first tranche of the buyback on September 28, 2026 (the Initial Tranche), the remaining Board authority currently provides for the repurchase of up to 12,033,748 ordinaryshares (being 0.33 percent of the Company\u2019s total issued share capital as at May 22).\n<\/p>\n

For the avoidance of doubt, no repurchases will be made on the Nigerian Exchange Limited (NGX).<\/p>\n

The Company has entered into agreements with Citigroup Global Markets Limited (Citi) to conduct the next tranche of the Programme (the Further Tranche) and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Citi (the Agreements).\n<\/p>\n

Citi will act as riskless principal pursuant to the Agreements.The Agreements entered into with Citiin respect of the Further Tranche comprise two elements which willoperate inparallel: a non-discretionary element pursuant to which Citi will purchase ordinary shares and will make trading decisions independently of the Company; and a discretionary element pursuant to which the Company may, at its discretion and subject to the provisions of the Market Abuse Regulation (EU) No 596\/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended), provide instructions to Citi for the purchaseofordinary shares.\n<\/p>\n

The Agreements have commenced on Thursday and are anticipated to terminate no later than December 22, 2026, unless terminated earlier in accordance with its terms.The sole purpose of the buyback programme is to reduce the capitalof the Company.\n<\/p>\n

As such, all shares purchased under the buyback programme will be cancelled.\n<\/p>\n

Any purchases of ordinary shares under either element of the Agreements will be carried out in accordance with certain pre-set parameters set out in the Agreements and in accordance with (and subject to the limitsprescribed by) the Company\u2019s general authority to repurchase ordinary shares granted by its shareholders fromtime to time (at the annual general meeting on July 9, 2026, shareholders gave the Company authority to purchase a maximum of 364,577,234 ordinary shares and following the completion of the Initial Tranche, the remaining authority amounts to a maximum of 352,727,390 ordinary shares), Financial Conduct Authority\u2019s UKListing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No 596\/2014 (as it forms part ofdomestic law by virtue of the European Union (Withdrawal) Act 2018, as amended).<\/p>\n

The discretionary arrangements may include irrevocable, non-discretionary instructions to Citi to continue to operate the buyback programme during closed periods. Citi will therefore operate the discretionary element of buyback programme autonomously during those periods.<\/p>\n

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Related News<\/h4>\n<\/p><\/div>\n
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\n\t\t\t\t\t\t\tIheanyi Nwachukwu<\/a><\/strong><\/p>\n

Iheanyi Nwachukwu, is a creative content writer with over two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Deputy Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
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\nIheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
\n
\nOther trainings Iheanyi attended include: Economic\/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

Airtel Africa Plc has commenced the next tranche of the share buyback programme originally announced on May 22. The Programme continues the Company\u2019s broader approach to returning cash to shareholders… <\/p>\n","protected":false},"author":1,"featured_media":9999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=9998"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/9999"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=9998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=9998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=9998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}