ITV PLC: Share Buyback and Total Voting Rights Update

ITV PLC, the UK's largest commercial television network, has recently announced two significant transactions in its own shares, which have impacted its total voting rights. On July 2, 2024, the company purchased 175,943 ordinary shares of 10 pence each from Morgan Stanley & Co. International Plc on the London Stock Exchange and Multilateral Trading Facilities. This transaction was made in accordance with the authority granted by shareholders at the Company's Annual General Meeting on May 2, 2024, and was part of the share buyback program announced by ITV on March 7, 2024.

The purchase was made at a volume-weighted average price of 79.72 pence per share, with the highest price paid being 80.25 pence and the lowest price being 79.35 pence. Following this transaction, ITV holds 63,835,680 of its ordinary shares in treasury and has 3,988,573,514 ordinary shares in issue (excluding treasury shares). Consequently, the total number of voting rights in the Company will be 3,988,573,514, which can be used by shareholders as the denominator when determining whether they are required to notify their interest in, or a change to their interest in, ITV under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

On January 29, 2025, ITV announced another transaction in its own shares, where it purchased 96,715 ordinary shares of 10 pence each from Morgan Stanley & Co. International Plc. This transaction was made at a volume-weighted average price of 71.48 pence per share, with the highest price paid being 71.85 pence and the lowest price being 71.25 pence. Following this transaction, ITV holds 120,479,277 of its ordinary shares in treasury and has 3,753,824,850 ordinary shares in issue (excluding treasury shares). As a result, the total number of voting rights in the Company will be 3,753,824,850.

These transactions demonstrate ITV's commitment to returning capital to shareholders through share buybacks and its confidence in the company's future prospects. By reducing the number of shares in issue, ITV increases the earnings per share for remaining shareholders, making the company's shares more valuable. Additionally, the share buybacks signal the company's confidence in its financial performance and future growth potential.

In conclusion, ITV's recent transactions in its own shares have had a significant impact on the company's capital structure and total voting rights. By repurchasing shares and reducing the number of shares in issue, ITV has increased the earnings per share for remaining shareholders and demonstrated its confidence in the company's future prospects. As a result, the total number of voting rights in the Company has been reduced, which can affect shareholder notifications under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.