Helios Towers plc Finalizes 600,000 Share Buyback and Cancels Shares Under Authorised Repurchase Plan

Share Buyback Executed Over Five Trading Days with Rising Share Prices

Helios Towers carried out the buyback evenly over five trading days, purchasing 120,000 shares each day from 20 July to 24 July 2026. Share prices increased steadily during this period, with the volume weighted average price (VWAP) climbing from 190.9699 pence on 20 July to 201.6947 pence on 24 July 2026, marking an approximate 5.7 pence rise per share. This upward price trend indicates favourable market conditions for the buyback execution.

On 20 July 2026, the first day of repurchases, shares traded at a high of 194.0 pence and a low of 187.1 pence, with a VWAP of 190.9699 pence. By 24 July 2026, the final day, the high reached 203.0 pence and the low was 199.8 pence, with a VWAP of 201.6947 pence. The consistent increase in daily highs, lows, and VWAP throughout the buyback period suggests strengthening share prices. Notably, on 22 July 2026, the midweek purchase recorded the highest single-day high at 200.6 pence, indicating strong momentum during the programme.

Diversified Multi-Venue Execution and Regulatory Adherence

The share purchases were executed across multiple trading venues, reflecting a diversified strategy typical of institutional buybacks. The London Stock Exchange (LSE) accounted for the largest volume with 338,384 shares traded, followed by BATE with 124,077 shares, Chi-X (CHIX) with 93,443 shares, Aquis (AQXE) with 24,255 shares, and Turquoise (TRQX) with 19,841 shares. Weighted average prices were consistent across venues, ranging from 195.7631 pence on the LSE to 195.9306 pence on Aquis, indicating efficient execution with minimal price variation.

This detailed venue breakdown demonstrates Helios Towers’ compliance with Article 5(1)(b) of Regulation (EU) No. 596/2014 (Market Abuse Regulation), which remains part of UK law post-Brexit. Publishing the trading venue data and providing a PDF schedule of individual transactions ensures transparency and regulatory adherence. Jefferies International Limited (intermediary code JEFFGB2XXXX) acted as the intermediary, executing trades across multiple platforms to minimise market impact and maintain price stability. The shares traded under ISIN GB00BJVQC708.

Permanent Share Capital Reduction via Cancellation

Unlike holding repurchased shares in treasury, Helios Towers has chosen to cancel all 600,000 shares, resulting in a permanent reduction in issued share capital. This change affects the denominator for calculating disclosure thresholds under the Disclosure Guidance and Transparency Rules (DGTR). Following cancellation, the issued ordinary shares total 1,039,807,185, the figure shareholders and reporting parties must use for percentage interest calculations.

Cancellation offers strategic benefits, including enhancing earnings per share (EPS) by reducing share count, mitigating future dilution, and simplifying capital structure by eliminating treasury share management. This approach signals management’s confidence in the company’s cash flow and capital allocation priorities, preferring share reduction over maintaining treasury shares for potential reissuance. For Helios Towers, a telecommunications tower operator focused on Africa, this reduction may positively impact investor returns as the company pursues growth in emerging markets.

Buyback Authorised Under November 2025 Programme

The 600,000 share buyback forms part of the authorised repurchase programme announced on 6 November 2025, which outlined parameters such as maximum shares to repurchase, pricing limits, and programme duration. The structured execution over five days in July 2026 demonstrates a measured approach, avoiding large single transactions that could disrupt market prices.

By purchasing equal daily tranches of 120,000 shares, Helios Towers adopted a disciplined strategy to ensure consistent execution and minimise adverse price effects. The seven-month interval between authorisation and execution suggests management timed purchases to optimise market conditions and financial position.

Helios Towers: Key African Telecommunications Infrastructure Provider

Helios Towers plc operates telecommunications tower infrastructure across Africa, leasing tower space to mobile network operators and other telecom providers. This business model generates recurring revenue through long-term leases, supporting mobile network expansion and maintenance in rapidly growing African markets with increasing telecommunications penetration and data usage.

The company benefits from structural growth drivers such as rising mobile adoption, higher data consumption, and ongoing capital expenditure by operators. By returning capital via buybacks when shares are deemed valuable, Helios Towers demonstrates confidence in its cash generation and the strength of its African tower portfolio. The infrastructure sector’s long-duration cash flows and essential services make it attractive for shareholder returns through capital efficiency.

Impact of Share Cancellation on Earnings Per Share

Cancelling 600,000 shares reduces the total issued share capital to 1,039,807,185 shares, which directly increases earnings per share (EPS) by spreading net profits over fewer shares. This EPS accretion benefits shareholders if earnings remain stable or grow. The share count reduction represents approximately 0.058% of the current base, a typical tranche size in ongoing buyback programmes where cumulative effects can significantly enhance per-share metrics over time.

Regulatory disclosure of the updated share count ensures accurate threshold calculations under DGTR and reflects Helios Towers’ transparent approach under UK and EU-derived financial regulations.

Pricing Trends and Valuation Insights During Buyback

Share prices during the buyback ranged from 187.1 pence to 203.0 pence, with an overall VWAP of approximately 195.96 pence across the 600,000 shares. While the announcement does not provide management’s valuation commentary, the rising VWAP from 190.9699 pence to 201.6947 pence suggests improving market sentiment or potential price support from the buyback demand.

Consistent VWAP prices across five trading venues, varying only between 195.76 and 195.93 pence, indicate efficient execution and competitive pricing by Jefferies International Limited, minimising price variance across platforms.

Regulatory Compliance and Disclosure Transparency

This announcement complies with Market Abuse Regulation (MAR) and UK financial conduct rules, specifically Article 5(1)(b) of Regulation (EU) No. 596/2014, which mandates transparent disclosure of share repurchase programmes. Providing a detailed PDF schedule of individual transactions enables investors, regulators, and market participants to scrutinise execution details and verify compliance.

The disclosure includes trading venues, aggregated volumes per venue, weighted average prices, daily high and low prices, and the company’s Legal Entity Identifier (LEI) 213800DGC7GS4XCHCU30, essential for regulatory reporting and unique company identification. Publishing this information within one business day of programme completion underscores Helios Towers’ commitment to transparency and timely market communication. The announcement’s disclaimer clarifies it does not constitute a securities offer or solicitation in any jurisdiction.

Strategic Capital Allocation and Enhancing Shareholder Value

Helios Towers’ board’s decision to execute a share buyback reflects a strategic capital allocation choice prioritising returning cash to shareholders over alternatives such as debt reduction, acquisitions, special dividends, or retained capital. This indicates management’s view that the shares were attractively valued during the buyback period and that repurchasing shares is an efficient way to enhance shareholder returns.

Buybacks can be more tax-efficient than dividends in some jurisdictions, avoiding dividend withholding taxes and allowing shareholders to manage realised gains. They also provide a capital-efficient alternative to special dividends by returning value only to shareholders who retain their shares while enabling others to exit at execution prices. For Helios Towers, which generates steady cash flows from long-term tower leases, buybacks balance returning excess capital with maintaining liquidity for operations and growth capex. The announcement does not disclose the total authorised buyback budget or timeline, so investors should monitor future updates to assess programme progress and cumulative share count impact.