LONDON - CVS Group plc (LSE:CVSG) announced today the commencement of a share buyback programme to purchase up to £50 million of its ordinary shares, according to a press release statement.
The veterinary services provider said the programme aims to return surplus capital to shareholders and reduce share capital under its capital allocation policy. All ordinary shares repurchased will be cancelled.
CVS has appointed Peel Hunt LLP and Joh. Berenberg, Gossler & Co. KG, London Branch as brokers to execute the purchases. The brokers will act as riskless principals and make trading decisions independently of the company.
Share purchases will be conducted on the London Stock Exchange and other trading venues. The programme operates under the general authority granted by shareholders at the company’s Annual General Meeting on November 18, 2025, which permits the purchase of up to 6,040,012 shares.
The buyback will comply with Chapter 9 of the Financial Conduct Authority’s Listing Rules and EU Regulation No 596/2014, as well as related technical standards that form part of Retained EU Law under the European Union (Withdrawal) Act 2018.
CVS said it will announce any share purchases within seven daily market sessions following the transaction date, as required by market abuse regulations.
The share buyback programme is expected to conclude by November 24, 2026.
CVS Group operates over 475 veterinary practices in the UK and Australia, employing approximately 9,000 personnel including 2,500 veterinary surgeons and 3,300 nurses. The company also operates laboratories and an online retail business.
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