Pantheon International Plc Finalizes Share Buyback Program with Acquisition of 175,000 Shares at 388.94p Average Price

Details of Share Repurchase and Transaction Execution

On 23 July 2026, Pantheon International Plc completed a substantial share buyback, acquiring 175,000 ordinary shares of 6.7 pence nominal value through Investec Bank Plc on the London Stock Exchange. The shares were purchased at prices ranging from 387.00 pence to 389.00 pence per share, with a weighted average price of 388.940 pence, reflecting the company’s execution strategy during the trading session.

This repurchase program marks a significant capital management initiative by Pantheon International Plc, impacting its issued share capital structure. The buyback demonstrates the company’s approach to enhancing shareholder value and optimizing its capital base. Investec Bank Plc served as the executing broker, managing the purchase orders within the regulated trading environment.

Impact on Share Capital and Voting Rights

Following the acquisition of 175,000 shares, Pantheon International Plc’s total ordinary shares in issue have decreased to 393,538,764. Importantly, none of these shares are held in treasury, ensuring all shares carry full voting rights and economic interest. The company’s intention to cancel the repurchased shares results in a permanent reduction in issued share capital rather than a temporary treasury holding.

The total voting rights now equal 393,538,764, reflecting a direct correlation between shares in issue and voting power after cancellation. This change affects shareholder dilution and voting power distribution among existing shareholders. The announcement notes that such buybacks may represent a significant portion of daily trading volumes on the London Stock Exchange, highlighting the relative scale of these repurchases.

Company Profile and Market Position

Pantheon International Plc is a London Stock Exchange-listed investment company operating within the investment trust and closed-ended fund sector. Its ordinary shares, with a nominal value of 6.7 pence each, trade under the ticker PIN, offering investors exposure to a managed portfolio of underlying assets.

As a listed entity, Pantheon International Plc complies with Financial Conduct Authority regulations and the London Stock Exchange Listing Rules. The company’s Company Secretary is Waystone Administration Solutions (UK) Limited, which provides governance and administrative support. The company’s Legal Entity Identifier (LEI) is 2138001B3CE5S5PEE928, facilitating global regulatory identification.

Capital Allocation Strategy and Shareholder Value

The buyback program reflects Pantheon International Plc’s strategic capital allocation decision, deploying surplus cash or liquid resources. Such repurchases are typically executed when management believes shares trade below intrinsic value, aiming to enhance returns for remaining shareholders by decreasing the share count. The single-day execution on 23 July 2026 indicates active management of market conditions and execution risk.

The choice to cancel rather than hold shares in treasury permanently reduces issued share capital and voting rights. This approach signals confidence in the company’s capital structure and aims to support earnings per share growth, depending on the relationship between buyback price and asset value. Treasury holdings would allow future reissuance, but cancellation indicates a lasting reduction in share base.

Market Impact and Trading Volume Considerations

The announcement highlights that share buybacks on any trading day may constitute a significant portion of Pantheon International Plc’s daily trading volume on the London Stock Exchange. This disclosure reflects awareness of the potential impact on liquidity and trading conditions. The 175,000 shares repurchased on 23 July 2026 should be viewed in the context of typical daily volumes for PIN shares.

Public information does not clarify the immediate share price impact. Investors observing the 23 July 2026 trading session would have seen the buyback alongside regular market activity. Employing Investec Bank Plc as broker likely aimed to ensure orderly execution without undue market disturbance or artificial price effects.

Regulatory Compliance and Disclosure

UK-listed companies conducting share repurchases must comply with the Companies Act 2006 and Financial Conduct Authority Listing Rules, requiring shareholder authority typically granted at annual general meetings or via general authorizations. While the announcement does not specify the authority basis, compliance is implied through formal disclosure via the London Stock Exchange’s Regulatory News Service (RNS).

The RNS announcement ensures simultaneous market notification of all material transaction details, including purchase date, share quantity, price range, and weighted average price. The notice restricts publication in certain jurisdictions such as the US, Canada, Australia, Japan, and South Africa, reflecting standard regulatory limitations on securities transaction disclosures.

Share Buyback Pricing and Execution Insights

The purchase price range of 387.00p to 389.00p per share, with a weighted average of 388.940p, indicates a focused execution period and relatively stable market conditions on 23 July 2026. The total cost of acquiring 175,000 shares approximates £679,645 before fees or broker commissions.

The company has not disclosed total repurchase costs, including any fees payable to Investec Bank Plc or others. Investors seeking detailed cash outlay information should consult future financial reports or transaction disclosures. The selected price range reflects market prices at which Pantheon was willing to repurchase shares during the trading day.

Investor Considerations and Monitoring

Shareholders should observe ongoing capital management initiatives, as buyback programs often continue when shares are deemed undervalued relative to net asset value. The reduction in voting rights to 393,538,764 shares after cancellation affects shareholder voting power distribution.

This transaction offers insight into Pantheon International Plc’s capital deployment approach and valuation assessments. Investors may monitor future announcements on share repurchases, voting rights changes, and share price versus net asset value relationships. Consistent use of buybacks may indicate management’s confidence in the investment strategy and share attractiveness at current market levels.

Contact and Administrative Information

For inquiries related to this announcement, investors can contact Charlotte Morris or Vicki Bradley at +44 (0) 203 356 1800, who handle investor relations and corporate communications for Pantheon International Plc.

Waystone Administration Solutions (UK) Limited provides the Company Secretary function and can be reached at +44 (0) 333 300 1932 for governance or administrative matters. Waystone specializes in company secretarial and administration services for UK investment companies. Pantheon International Plc’s LEI is 2138001B3CE5S5PEE928, serving as its unique global identifier.