Prudential plc Announces Further Share Repurchase and Cancellation

Key Points from the Disclosure Return

• Prudential plc, a leading global insurance and financial services company, has completed a further repurchase and cancellation of its ordinary shares listed on the Hong Kong Stock Exchange.
• Date of Disclosure: 25 February 2026
• Stock Code: 02378
• Class of Shares: Ordinary shares of GBP 0.05 each
• Latest Share Repurchase and Cancellation:
  • Repurchase executed on 20 February 2026, cancelled on 24 February 2026
  • Number of shares cancelled: 250,585
  • Average repurchase price: GBP 11.3285 per share
  • Percentage of total shares cancelled: 0.009877%
• Updated Share Count:
  • Shares in issue before event: 2,537,163,092
  • Shares in issue after event: 2,536,912,507

Additional Repurchases Pending Cancellation

• On 23 February 2026: 335,080 shares repurchased for cancellation (not yet cancelled), at an average price of GBP 11.3801 per share (0.013207% of issued shares)
• On 24 February 2026: 453,332 shares repurchased for cancellation (not yet cancelled), at an average price of GBP 11.0837 per share (0.017868% of issued shares)

Repurchase Report Details

• Trading Date: 24 February 2026
• Number of Shares Repurchased: 453,332
• Method: On another stock exchange (London Stock Exchange)
• Price Range: GBP 11.005 – GBP 11.185 per share
• Total Aggregate Price Paid: GBP 5,024,586.96
• Shares Repurchased for Cancellation: 453,332
• Shares Repurchased for Treasury: 0

Repurchase Mandate and Limitations

• Shareholders’ Mandate Date: 14 May 2025
• Total Number of Shares Authorized for Repurchase: 262,668,701
• Number of Shares Repurchased under Mandate (to date): 70,317,398
• Percentage Utilized: 2.69976% of the issued share capital as at the mandate date
• Moratorium Period: No new issue of shares, sale, or transfer of treasury shares is permitted until 26 March 2026 unless prior approval is obtained from the Exchange

What Shareholders Need to Know

• Potential Price Sensitivity:
  • The ongoing share buyback program reflects management’s confidence in the company’s financial position, and is generally viewed as shareholder-friendly since it reduces the number of shares in issue, potentially enhancing earnings per share (EPS).
  • These repurchases, particularly at prices around GBP 11 per share, represent a significant use of capital and demonstrate the company’s commitment to returning value to shareholders.
  • The moratorium on new share issues until late March 2026 may reduce potential dilution risks for existing shareholders in the short term.
• International Repurchases:
  • The buybacks were executed on the London Stock Exchange, not the Hong Kong Exchange, an important detail for investors tracking liquidity and trading volumes in different markets.
• Transparency and Governance:
  • The company has provided full disclosure in compliance with Hong Kong Listing Rules, reinforcing governance standards and transparency for global investors.
• Effect on Share Value:
  • The cumulative effect of continued repurchases, combined with the restriction on new share issuance, is likely to be supportive for Prudential’s share price in the near term, all else being equal. However, market reaction will also depend on broader sector and macroeconomic factors.

Other Important Details

• No On-Market Sale of Treasury Shares: The company did not conduct any on-market sale of treasury shares during this period.
• Disclosure Compliance: All repurchases were conducted in accordance with both the Hong Kong and London market rules.
• Update Signed By: Florence Ng Wai Yin, Deputy Group Secretary.

Investor Takeaway

Prudential plc’s continued and transparent share buyback program, with a clear moratorium on new share issuance, is a noteworthy event for shareholders. These actions are typically supportive of share price and may influence investor sentiment in the short to medium term.

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 related to Prudential plc or any other securities.

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