Drax Group Announces Massive Share Buyback: Adding Millions to Treasury

Drax Group, one of the biggest players in the UK energy sector, has announced a massive step forward in augmenting its treasury shares. As part of a strategic move revealed in August 2024, Drax has purchased an additional 155,038 of its ordinary shares. The buyback was made through RBC Europe Limited following the specific guidelines of the company’s share buyback programme.

The shares, each valued at 11 16/29 pence, were purchased at a weighted average price of 600.53 pence, with the highest price paid being 604.00 pence and the lowest, 593.00 pence. The move takes Drax’s total of shares in issue, including treasury shares, to a whopping total of 429,592,911. The shares held in treasury have now reached 72,888,788, highlighting the company’s robust strategy for stabilising its financial structure.

By April 2025, the total number of voting rights in Drax Group, excluding treasury shares, stands at 356,704,123 - a figure that can be used by shareholders and others with notification obligations to check disclosure and transparency rules. Since the announcement of the share buyback programme in 2024, Drax Group has managed to accumulate 32,915,796 ordinary shares for the treasury in total.

Mark Stafford, the Head of Investor Relations at Drax Group, represented the company during this latest transaction. Following this, market analyses will be eagerly watching for Drax Group’s next move.