Fever-Tree Drinks Finalizes Share Buyback Program with Repurchase of 248,979 Shares in July 2026

Fever-Tree Drinks Overview and Buyback Authorization

Fever-Tree Drinks plc, a premium mixer and soft drink manufacturer listed on the London Stock Exchange, operates across multiple regions producing specialist mixers such as tonics and ginger beer. The recent share buyback was executed under authority granted by shareholders at the Annual General Meeting on 5 June 2025, representing a standard capital management approach to enhance shareholder value.

This announcement confirms the execution of a previously authorized capital allocation decision, offering transparency to investors. Share cancellation is an alternative to dividends or other distributions and is typically pursued when management views shares as attractively valued relative to the company’s fundamentals. The completion of this program underscores the company’s commitment to returning capital to shareholders under favorable market conditions.

Details of Share Repurchase and Market Execution Across Two Exchanges

The buyback took place over five trading days from 13 to 17 July 2026, with purchases made on both the main London Stock Exchange (XLON) and the AIM market (AIMX). Fever-Tree repurchased 248,979 ordinary shares, each with a par value of .0025, through Investec Bank plc, which acted as the company’s broker.

The phased execution over five days allowed Fever-Tree to optimize pricing and minimize market impact. Share prices ranged from 761.0 pence on 14 July 2026 to 820.0 pence on 17 July 2026. Volume-weighted average prices varied daily, from 765.0 pence on 14 July (AIM) to 815.2215 pence on 17 July (London Stock Exchange), reflecting orderly market conditions throughout the buyback.

Daily Trading Volumes and Price Trends During Buyback Period

On 13 July 2026, Fever-Tree acquired 22,532 shares on the London Stock Exchange at a volume-weighted average price of 773.9725 pence, with trade prices between 767.0 pence and 783.0 pence. On 14 July, the company purchased 37,904 shares on XLON at 775.1759 pence average and 20,000 shares on AIM at 765.0 pence, the lowest price tranche of the program.

The highest volume day was 15 July 2026, with 57,106 shares bought on the London Stock Exchange at an average price of 795.5166 pence. On 16 July, Fever-Tree acquired 46,890 shares on XLON at 806.9910 pence average and 9,465 shares on AIM at 810.0 pence. The final day, 17 July, saw 34,232 shares purchased on XLON at 815.2215 pence average and 21,050 shares on AIM at 813.0 pence. The steady increase in purchase prices over the period indicates improving market sentiment toward Fever-Tree shares.

Dual-Exchange Buyback Strategy and Market Venue Breakdown

Fever-Tree executed its buyback across two market venues: the primary London Stock Exchange (XLON) and the AIM market (AIMX). The majority of shares, 198,664, were repurchased on the London Stock Exchange, with 50,515 shares acquired on AIM. This dual-venue approach aligns with the company’s listing structure and reflects varying liquidity profiles across platforms.

Purchases on the London Stock Exchange accounted for approximately 79.7% of total volume, generally at higher prices than AIM trades. AIM purchases were concentrated on 14, 16, and 17 July, indicating strategic liquidity deployment. Completing acquisitions across both venues highlights the company’s operational efficiency in implementing its capital management program across its trading ecosystem.

Share Cancellation and Effects on Capital Structure

Fever-Tree Drinks will cancel all 248,979 repurchased ordinary shares, resulting in a permanent reduction in issued share capital rather than holding shares in treasury. This cancellation reduces the total shares outstanding, potentially increasing earnings per share for remaining shareholders even if profits remain constant.

This permanent share count reduction can enhance shareholder value by improving earnings per share metrics. However, the impact on book value per share depends on the relationship between repurchase prices and net asset value per share at the time of buyback.

Regulatory Compliance and Market Abuse Regulation Disclosure

The buyback completion announcement complies with Article 5(1)(b) of Regulation (EU) No 596/2014 (Market Abuse Regulation), incorporated into UK law. This framework mandates detailed disclosure of transactions in company shares to ensure transparency and prevent market abuse.

Fever-Tree provided a full breakdown of trades executed by Investec on its behalf, attached to the announcement and accessible via the RNS system. This detailed disclosure, including volume-weighted average prices and trade volumes, confirms adherence to regulatory requirements and market integrity during the buyback.

Investor Relations Contacts and Communication

Steve Nightingale, Director of Investor Relations, is the primary contact for queries on this announcement and can be reached at [email protected] or +44 (0)7951 849564. For media inquiries, Oliver Winters, Director of Communications, is available at [email protected] or +44 (0)770 332 9024. These contacts provide clear channels for investor and media engagement regarding the buyback program.

The appointment of dedicated investor relations and communications personnel underscores Fever-Tree’s commitment to transparency and stakeholder engagement. The immediate impact of the buyback on the share price was not evident from publicly available information at the time of announcement.

Capital Allocation Strategy and Shareholder Value Implications

The buyback completion offers insight into Fever-Tree’s capital allocation priorities during July 2026. By repurchasing shares at prices between 761.0 pence and 820.0 pence, the company signaled that these levels reflected fair value relative to its medium-term outlook. Such capital deployment balances reinvestment, acquisitions, dividends, and shareholder returns.

Executing the program under shareholder authorization reflects strong corporate governance, ensuring capital decisions are subject to shareholder approval. Investors may anticipate future updates on capital allocation strategies, including potential renewed buyback authority or alternative return mechanisms. The timing of the buyback relative to market conditions provides context for management’s business environment assessment.

Fever-Tree Drinks’ Market Position in Premium Mixers

Fever-Tree Drinks operates within the growing premium mixer and soft drink sector, catering to consumers seeking high-quality, craft beverages. Its portfolio includes premium tonics and ginger beer positioned at the upper end of the market, where quality and provenance drive pricing.

The July 2026 buyback occurred amid this expanding market segment. Fever-Tree’s ability to execute a significant buyback while maintaining operations indicates strong cash flow generation supporting capital returns alongside business investments. The dual-market execution and purchase price range (761.0p to 820.0p) provide insight into valuation levels at which the company was comfortable repurchasing shares during this period.