Prudential plc Announces Share Repurchases and Updates on Issued Share Capital

Key Points for Investors

• Continued Share Repurchase Activity: Prudential plc has repurchased and cancelled a significant number of its ordinary shares, reflecting ongoing capital management initiatives.
• Recent Share Cancellation: On 5 December 2025, 274,122 ordinary shares were repurchased and cancelled, reducing the total issued shares to 2,554,418,617.
• Additional Shares Pending Cancellation: As of 5 December 2025, a further 541,318 shares (comprised of 272,923 on 4 December and 268,395 on 5 December) have been repurchased for cancellation but had not yet been cancelled by the closing balance date.
• Repurchase Price: The repurchase prices ranged from GBP 10.8645 to GBP 11.00 per share, with a volume-weighted average price for the latest batch at GBP 10.9976 per share.
• Repurchase Mandate Utilisation: Since the mandate was granted on 14 May 2025, Prudential has repurchased 52,557,578 shares, representing approximately 2.02% of the issued share capital at the mandate date.
• Moratorium on New Issues: Following these repurchases, Prudential is subject to a 30-day moratorium period (until 4 January 2026) during which it cannot issue new shares or sell/transfer treasury shares without prior approval.
• No On-Exchange Sales: There were no sales of treasury shares reported during this period.

Detailed Summary of Share Capital Changes

On 3 December 2025, Prudential plc repurchased 274,122 ordinary shares at a volume-weighted average price of GBP 10.9976 per share. These shares were cancelled on 5 December 2025, reducing the company’s issued share capital from 2,554,692,739 to 2,554,418,617 shares.

In addition, the company repurchased 272,923 shares on 4 December 2025 at GBP 10.9755 per share and 268,395 shares on 5 December 2025 at GBP 10.8645 per share. These shares were pending cancellation as of the reporting date.

The total number of shares repurchased for cancellation but not yet cancelled as at the closing balance date is 541,318. The aggregate price paid for the 268,395 shares repurchased on 5 December was GBP 2,915,978.98. All repurchases during this period were conducted on the London Stock Exchange.

The share repurchase programme is being carried out under a mandate granted on 14 May 2025, which allows for the repurchase of up to 262,668,701 shares. To date, 52,557,578 shares have been repurchased under this authority, representing 2.02% of the issued share capital as at the date of the mandate.

Implications for Shareholders

• Potential Value Enhancement: The ongoing share repurchase and cancellation programme could enhance shareholder value by reducing the total number of shares in issue, thereby increasing earnings per share and potentially supporting the share price.
• Buyback Price Sensitivity: The repurchase prices, close to the current market price, may signal management’s confidence in the intrinsic value of the business at these levels and provide a price floor for the shares in the near term.
• Moratorium Impact: The 30-day moratorium on new share issues and treasury share sales may temporarily limit dilution risk, which could be viewed positively by existing shareholders.
• Ongoing Buybacks: Continued utilisation of the repurchase mandate indicates that the company is actively managing its capital base and returning capital to shareholders.

Conclusion

Prudential plc’s continued execution of its share buyback programme, at a meaningful volume and at prevailing market prices, is a noteworthy development for investors. The reduction in outstanding shares may have a positive impact on key per-share metrics and could support the share price, especially in the context of the current moratorium on new share issues.

Shareholders should monitor further disclosures from the company as additional shares are cancelled and as Prudential approaches the end of the current moratorium period.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult with a professional advisor before making investment decisions. All share numbers, prices, and percentages are based on public filings as of 8 December 2025.

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