Business Context and Reporting Period
Company: NatWest Group plc
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: June 21, 2024
Subject: Transaction in Own Shares (Share Buyback)
This filing discloses a specific day of share repurchase activity conducted by NatWest Group plc as part of its existing share buyback programme. The transactions were executed by UBS AG, London Branch, pursuant to instructions issued on February 16, 2024.
Key Financial Metrics and Transaction Details
The filing details the purchase of ordinary shares on June 21, 2024. The nominal value of the shares is £1.076923076923077.
| Venue | Shares Purchased | Highest Price (GBp) | Lowest Price (GBp) | Volume Weighted Average Price (GBp) |
|---|---|---|---|---|
| LSE | 1,082,000 | 322.10 | 314.50 | 316.7191 |
| CHIX | 195,000 | 321.80 | 314.70 | 317.0759 |
| BATE | 805,000 | 322.00 | 314.60 | 316.2967 |
| Total | 2,082,000 | 322.10 | 314.50 | N/A |
Post-Transaction Share Counts:
- Treasury Shares Held: 289,909,666
- Ordinary Shares in Issue (excluding treasury): 8,322,772,155
Material Changes and Share Capital Impact
The primary material change reported is the reduction of shares in issue and the increase in treasury shares following the settlement of the 2,082,000 shares purchased on this date. The company intends to cancel the repurchased ordinary shares, which will permanently reduce the share count.
Guidance, Outlook, and Management Commentary
Buyback Programme Status: The transactions form part of the Company's existing share buyback programme. No new guidance, financial outlook, or management commentary regarding future earnings or strategic shifts is provided in this specific filing.
Risks and Contingencies: The filing notes compliance with Article 5(1)(b) of Regulation (EU) No. 596/2014 (Market Abuse Regulation) as it applies in the UK. No specific new risks or contingencies are disclosed beyond standard regulatory compliance for share repurchases.
Important Facts for Investor Verification
- Buyback Continuity: Verify the total amount spent and shares repurchased under the programme announced on February 19, 2024, to assess remaining capacity.
- Share Cancellation: Confirm the timing of the formal cancellation of the 2,082,000 shares purchased on June 21, 2024, to understand the impact on Earnings Per Share (EPS).
- Treasury Holdings: Note that the company currently holds 289,909,666 shares in treasury; verify if these are held for cancellation or potential re-issue.
- Trading Venues: The majority of volume (approx. 52%) was executed on the LSE, with significant activity on BATE (approx. 39%) and CHIX (approx. 9%).