Pantheon International PLC (LSE:PIN) announces a share repurchase program. Under the program, the company will repurchase up to £200 million worth of its own shares, through a non-discretionary agreement with its broker. The maximum price payable for a share is an amount equal to the higher of 105% of the average market value of the shares for the five business days immediately preceding the day on which such share is contracted to be purchased or the higher of the price of the last independent trade and the highest current independent bid on the Exchange. The repurchased shares will be cancelled. The program will be valid for the financial period ending on May 31, 2024.

On September 25, 2023, the company initiated a Dutch- Auction Tender Offer. Under the offer, the company will repurchase up to £150 million worth of its shares. The shares will be repurchased at a price of not less than 280 pence per share and and not more than 315 pence per share. The company has fixed October 17, 2023, as the record date for the offer. The offer will commence today and will expire on October 17, 2023.

On October 17, 2023, the company concluded the Dutch- Auction Tender Offer. The company repurchased 49,180,327 shares at a price of £3.05 per share.

Investec Bank plc and J.P. Morgan Securities plc acted as brokers to the company.