Stagecoach : Share buyback programme

Share buyback programme

Stagecoach Group plc ('Stagecoach' or 'the Company') is today pleased to announce a share buyback programme to buy back shares with an aggregate market value of up to £60 million (the 'Programme').

The Stagecoach Board believes that following the recent announcements regarding UK Rail coupled with the completion of the sale of the North America business, it is an appropriate use of our cash at this time to buy back our own equity.

The intention is to complete the buy back over the next 12 months. However, the Board of Stagecoach will keep the form and quantum of the programme under review.

The purpose of the buyback is to reduce the share capital of Stagecoach and it will take place within the limitations of the authority granted to the Board of Stagecoach at the general meeting, held on 31 August 2018, pursuant to which the maximum number of shares to be bought back was 50,000,000. The buyback will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014, the Commission Delegated Regulation (EU) 2016/1052 and Chapter 12 of the Listing Rules. The repurchased ordinary shares will be held in treasury.

The Group has entered into agreements with Deutsche Bank AG, London Branch and RBC Capital Markets to conduct the Programme on its behalf. These agreements provide Deutsche Bank and RBC Capital Markets the authority to purchase shares under the Programme independently of the Company.

For further information, please contact:

Stagecoach Group plc	www.stagecoachgroup.com
Investors and analysts
Ross Paterson, Finance Director	01738 442111
Bruce Dingwall, Group Financial Controller	01738 442111
Media
Steven Stewart, Director of Communications	01738 442111 or 07764 774680
John Kiely, Smithfield Consultants	020 3047 2476