Auto Trader Group Implements Share Buyback Strategy, Acquires over 163,000 Ordinary Shares for Cancellation

In a move characteristic of a company in a healthy financial position, Auto Trader Group plc recently announced that it has purchased a significant number of its ordinary shares. Buying back shares is a strategic activity that companies often resort to for multiple reasons, including the increased pool of treasury shares, enhancing the financial ratios, and reducing the risk of takeover threats among others. This purchase is thus considered as an emblem of strong financial health and robust corporate governance. Enlisting Deutsche Numis, a reputed investment services firm, the automotive classified advertising giant commenced the share buyback venture. Post completion, the company announced that it had acquired a staggering 163,095 ordinary shares for cancellation at an average price of 794.1505p per share; the highest purchase price per share being at 798.00p and the lowest at 790.20p. The company post this strategic move holds 4,584,606 ordinary shares in its treasury and has 883,631,142 ordinary shares in issue. Consequently, the total voting rights in Auto Trader Group plc now stand at 879,046,536. This number will provide the basis for shareholders’ calculations to discern whether they need to announce their interest in, or any changes to their interest in the company under the FCA’s Disclosure Guidance and Transparency Rules. Complimenting its share buyback strategy, the automotive giant has aligned its actions in accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation). The company also shed light on the detailed information about the purchases made by Deutsche Numis, on its behalf, as part of this growth-accelerating buyback programme. Catering to stakeholders’ interests, the company ensures transparency at every juncture. Right from the number of ordinary shares purchased in individual transactions to transaction prices and timing, an impressive array of details was provided. As the company marches forward, it continues to strategically manage its financial landscape, ensuring it remains a dominant player within the automotive industry. Claire Baty, Company Secretary at Auto Trader Group plc, can be reached for further queries.