RNS Number : 4659K

Mears Group PLC

25 August 2023

Mears Group PLC

("Mears", the "Group", or the "Company")

Completion of Buyback programme

Mears (LSE: MER), the leading provider of services to the Housing sector in the UK is pleased to announce that it has completed its GBP20m share buyback programme, details of which were announced on 15 May 2023. Over the duration of the programme, the Group purchased and cancelled 7.30m Ordinary Shares of 1p each at an average price of 273.9p, representing c.6.58% of the Group's issued share capital.

For further information, contact:

 Mears Group PLC       Tel: +44(0)1452 634 600 
 Andrew Smith 
 Numis                 Tel: +44(0)207 260 1000 
 Julian Cater 
 Kevin Cruickshank 
 Panmure Gordon        Tel: +44(0)207 886 2500 
 Tom Scrivens 
 James Sinclair-Ford 

About Mears

Mears is the leading provider of services to the Affordable Housing sector, providing a range of services to individuals within their homes. We manage and maintain around 450,000 homes across the UK and work predominantly with Central Government and Local Government typically through long-term contracts. We equally consider the residents of the homes that we manage and maintain to be our customers, and we take pride in the high levels of customer satisfaction that we achieve.

Mears currently employs around 5,500 people and provides services in every region of the UK. In partnership with our Housing clients, we provide property management and maintenance services. Mears has extended its activities to provide broader housing solutions to solve the challenge posed by the lack of affordable housing and to provide accommodation and support for the most vulnerable.

We focus on long-term outcomes for people rather than short-term solutions and invest in innovations that have a positive impact on people's quality of life and on their communities' social, economic, and environmental wellbeing. Our innovative approaches and market leading positions are intended to create value for our customers and the people they serve while also driving sustainable financial returns for our providers of capital, especially our shareholders.

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(END) Dow Jones Newswires

August 25, 2023 03:36 ET (07:36 GMT)

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