3i Group Plc Advances £372 Million Share Buyback Under £750 Million Repurchase Plan

Detailed Weekly Share Repurchase Activity and Pricing Trends

During the week ending 24 July 2026, 3i Group conducted share buybacks across five consecutive trading days: 20, 21, 22, 23, and 24 July. Daily volumes varied, with the peak single-day purchases of 307,811 shares occurring on 20, 21, and 22 July. Activity then declined to 135,278 shares on 23 July and 106,981 shares on 24 July.

Share prices fluctuated throughout the week. On 20 July, shares were acquired between £25.21 and £25.73, averaging £25.4391. Prices dipped on 21 July to a range of £24.68–£25.22 with a £24.9676 average. On 22 July, prices recovered to £24.60–£25.78, averaging £25.3743. The 23 July purchases saw a notable increase, ranging from £26.34 to £27.65 with a £26.9311 average. The highest prices occurred on 24 July, with shares bought between £26.82 and £27.84, averaging £27.3984.

Progress Toward £750 Million Buyback Goal

Since the programme's launch following its 14 May 2026 announcement, 3i Group has repurchased and cancelled 15,904,994 shares at a total cost of £372,176,446.52 (excluding fees and taxes). This represents approximately 49.6% of the £750 million authorised buyback, indicating the company is roughly halfway through its planned capital return via share cancellations.

The average price paid per share across all buybacks is approximately £23.39, based on cumulative figures. The programme has been active for about two and a half months, with a measured execution pace designed to avoid market disruption. By spreading purchases over multiple weeks and adjusting volumes, 3i maintains flexibility to respond to market conditions and share price movements.

Effect on Voting Rights and Capital Structure

Following recent cancellations, 3i Group's total voting rights have decreased to 1,008,806,969 shares. This figure is critical for shareholders as it determines disclosure thresholds under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. With fewer shares outstanding, existing holdings represent larger proportional stakes, potentially triggering notification requirements.

The company confirmed it holds no treasury shares after these cancellations, meaning all repurchased shares are permanently retired. This approach signals a commitment to reducing share capital permanently, enhancing earnings per share for remaining shareholders, and strengthening the capital base for future investments.

Execution Details and Compliance with Market Abuse Regulation

All shares acquired during 20–24 July 2026 were purchased on the London Stock Exchange through Barclays Capital Securities Limited, acting as the executing broker. The announcement provides detailed trade data in compliance with Article 5(1)(b) of Regulation (EU) No. 596/2014, incorporated into UK law via the European Union (Withdrawal) Act 2018. This ensures transparency and investor protection.

The buyback programme was publicly disclosed on 14 May 2026, offering advance notice to shareholders and the market. By executing through a regulated broker and publishing detailed post-trade information, 3i demonstrates adherence to market abuse regulations and governance best practices. The transparency of volumes, price ranges, and volume-weighted average prices allows stakeholders to verify fair execution consistent with trading rules.

Overview of 3i Group's Business and Capital Allocation

3i Group plc is a leading investment company listed on the London Stock Exchange, specialising in alternative asset management and private equity. It manages substantial capital for institutional investors, deploying funds into mid-market private equity, infrastructure, and other alternative assets globally. The company generates shareholder returns through dividends and capital gains from its portfolio.

The £750 million share buyback reflects management's view that shares trade attractively relative to net asset value, making share cancellation an efficient capital return method. By repurchasing shares below estimated net asset value, 3i increases net asset value per share for continuing shareholders, enhancing long-term returns without new capital investment. The phased buyback approach balances market presence and price discipline.

UK Regulatory Environment for Share Buybacks

UK share repurchase programmes are governed by the Companies Act 2006 and FCA rules, including Disclosure Guidance and Transparency Rules and Market Abuse Regulation. Shareholder approval is required to authorise maximum buyback amounts and durations. The £750 million limit represents the maximum authorised capital deployment, with execution timing at the board's discretion.

The announcement includes a standard disclaimer noting it is not an offer or solicitation. Detailed trade disclosures ensure market transparency and prevent information asymmetry. Publishing via the Regulatory News Service guarantees simultaneous access to material information, protecting minority shareholders and enabling informed investment decisions.

Share Price Trends and Market Conditions During Buyback Week

During 20–24 July 2026, 3i shares traded between £24.60 and £27.84, a roughly 13% range. Prices softened on 21 July before consolidating on 22 July. Significant price gains occurred on 23 and 24 July, with volume-weighted average prices rising from £24.9676 to £27.3984, a 9.8% increase over three days.

The share price impact from the buyback is unclear, possibly reflecting broader market sentiment, company-specific developments, or buyback execution. Lower volumes on days with higher prices suggest 3i exercised pricing discipline, reducing purchases when prices rose to minimise average costs.

Shareholder Disclosure Thresholds and Reporting Obligations

The updated voting rights figure of 1,008,806,969 shares should be used by shareholders to assess notification requirements under FCA rules. Shareholders must report holdings crossing thresholds such as 3%, 5%, and 10%. As total shares decrease, unchanged shareholdings represent larger percentages, potentially triggering disclosure.

This dynamic affects both shareholders monitoring their positions and the company tracking significant interests. Accurate voting rights data enables compliance with regulatory obligations.

Remaining Buyback Capacity and Future Execution Plans

With £372.18 million spent, approximately £377.8 million remains available under the £750 million buyback authority, representing 50.4% of the programme. This affords flexibility to continue repurchasing shares subject to market conditions and capital needs. The board retains discretion over purchase timing and pace.

No specific end date for the programme has been announced. Future updates will be provided via the Regulatory News Service upon significant milestones or programme completion. Shareholders are encouraged to monitor ongoing announcements for insights into execution and valuation.