01—Abstract
Summary
Summary of the 8-K filed May 8, 2025. Cited figures are marked; the original filing is the authoritative source.
Flutter Entertainment plc (NYSE: FLUT; LSE: FLTR) filed this Form 8-K under Item 7.01 (Regulation FD Disclosure) to furnish a press release announcing the launch of the third tranche of its share repurchase program.
The company has entered into non-discretionary arrangements with Davy Securities Unlimited Company to repurchase ordinary shares on its behalf for an aggregate maximum consideration of up to $225 milliona on the New York Stock Exchange. The buyback will commence on July 1, 2025 and end no later than September 30, 2025, and the repurchased shares will be cancelled to reduce share capital. This tranche is part of a multi-year share repurchase program of up to $5 billion announced on September 25, 2024.
The company states that in 2025 it expects to return approximately $1 billionb to shareholders through the program. The maximum number of shares repurchased under this tranche is 17,739,905 ordinary shares, less the shares acquired under the first tranche (announced November 13, 2024) and the second tranche (announced March 5, 2025).
The company notes that future buyback tranche amounts and timing will depend on an ongoing assessment of business capital needs and general market conditions. The announcement was made to comply with UK Financial Conduct Authority Disclosure Guidance and Transparency Rules, and the buyback will follow Rule 10b5-1 and Rule 10b-18 under the U.S. Exchange Act as well as EU Market Abuse Regulation parameters as applied in the UK.
02—Key points
Key Highlights
- Third tranche of share repurchase program: up to $225 million aggregate maximum consideration, executed via Davy Securities Unlimited Company on the NYSE
- Buyback timing: commences July 1, 2025 and ends no later than September 30, 2025
- Part of a multi-year program of up to $5 billion announced September 25, 2024
- Company expects to return approximately $1 billion to shareholders in 2025 through the program
- Maximum of 17,739,905 ordinary shares under this tranche, less shares bought under the first (Nov 13, 2024) and second (Mar 5, 2025) tranches
- Repurchased shares will be cancelled, reducing share capital
- Future tranche amounts and timing depend on ongoing assessment of capital needs and market conditions
03—Questions
Frequently Asked Questions
How large is this share buyback tranche?
The third tranche allows for an aggregate maximum consideration of up to $225 million, with a maximum of 17,739,905 ordinary shares less those already acquired under the first and second tranches.
When will the buyback take place?
The buyback will commence on July 1, 2025 on the New York Stock Exchange and will end no later than September 30, 2025.
Who is executing the repurchases and how are decisions made?
Davy Securities Unlimited Company will conduct the buyback on Flutter's behalf and will make trading decisions independently of Flutter, in accordance with certain pre-set parameters.
What happens to the repurchased shares?
The repurchased ordinary shares will be cancelled, which the company states is the purpose of the buyback: to reduce its share capital.
How much does Flutter plan to return to shareholders overall?
The company expects to return approximately $1 billion to shareholders in 2025 via the program, which is part of a multi-year program of up to $5 billion announced September 25, 2024.
04—Continue