Prudential plc Announces Share Repurchase and Issued Share Changes

Key Highlights:

• Prudential plc has executed a share repurchase transaction, resulting in a reduction of its issued ordinary shares.
• The repurchases were conducted on the London Stock Exchange and reflect ongoing capital management initiatives.

Details of Share Repurchase

Prudential plc, a leading equity issuer listed on the Hong Kong Stock Exchange under stock code 02378, has reported significant changes to its issued share capital through share repurchase activities. Most notably, on 1 December 2025, the company completed the repurchase and cancellation of 257,088 ordinary shares at a volume-weighted average price of GBP 10.906. Prior to this, on 27 November 2025, the shares were repurchased and subsequently cancelled on 1 December 2025.

After these cancellations, the total number of issued shares (excluding treasury shares) decreased from 2,555,788,178 to 2,555,531,090, representing a reduction of 0.010059% of the total issued shares. This action underscores Prudential’s commitment to optimizing its capital structure and potentially enhancing shareholder value.

Outstanding Shares Pending Cancellation

On top of the completed cancellations, Prudential has also repurchased shares for cancellation but which have not yet been cancelled as of the reporting date:

• On 28 November 2025: 292,129 shares at GBP 10.908 per share (representing 0.01143% of issued shares)
• On 1 December 2025: 274,050 shares at GBP 10.8972 per share (representing 0.010723% of issued shares)

These shares remain in the issued share count until formally cancelled, but investors should be aware that their cancellation will further reduce the share capital.

Repurchase Mandate Details

The repurchase activities are made under a shareholder-authorized mandate dated 14 May 2025, allowing Prudential to repurchase up to 262,668,701 shares. As of 1 December 2025, the company has repurchased a total of 51,469,966 shares under this mandate, which is 1.976134% of the issued shares at the time of authorization.

For the latest reported repurchase on 1 December 2025, Prudential repurchased 274,050 shares on the London Stock Exchange, with prices ranging from GBP 10.83 to GBP 10.925, for an aggregate consideration of GBP 2,986,379.16.

Important Shareholder Considerations

• Moratorium Period: Following these repurchases, Prudential is subject to a moratorium period until 31 December 2025. During this time, the company cannot issue new shares, sell, or transfer any treasury shares without prior approval from the Exchange. This restriction is designed to ensure market stability and transparency after significant buy-back activity.
• Price Sensitivity: Share repurchase programs often signal management’s confidence in the company and may support share prices by reducing the supply of shares and potentially increasing earnings per share. The aggregate amounts and prices paid could be seen as a floor for valuation, but investors should note that future buyback activity and cancellation of the outstanding repurchased shares may further affect supply-demand dynamics.
• Capital Management: These actions reflect ongoing efforts to manage Prudential’s capital base, which may be interpreted positively by investors seeking returns and stability.

No On-Market Sale of Treasury Shares

Prudential has not reported any on-market sales of treasury shares during this period, focusing solely on the cancellation of repurchased shares.

Conclusion

Prudential plc’s recent share repurchase activity is significant and may be price sensitive for shareholders. The reduction in share capital, the use of authorized mandates, and the moratorium period for new share issuance may all influence investor sentiment and share price performance in the coming weeks.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consider their own circumstances and consult with a qualified financial advisor before making investment decisions. While every effort has been made to ensure accuracy, the information is based on official filings as of the stated dates and may be subject to change.

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