Highlights

  • OPG proposes a conditional share buyback of up to GBP 11.41 million for qualifying shareholders.
  • The company seeks approval for cancellation of Ordinary Shares’ admission on AIM.
  • Adoption of amended memorandum and new articles of association is included in AGM resolutions.

OPG (LSE:OPG), the developer and operator of power generation assets in India, has announced a Circular detailing a proposed conditional share buyback offer to certain qualifying shareholders. The offer covers up to 182 million Ordinary Shares, representing approximately 45.42% of the existing issued share capital, at a fixed price of 6.27 pence per share.

The Share Buyback Price represents a premium of around 15% to the closing price of 5.45 pence per share on 4 November 2025, the latest practicable date, and a premium of approximately 9% to the one-month volume-weighted average price. The offer is structured as a direct invitation to shareholders, without an intermediary acting as principal.

The buyback is conditional on shareholder approval of the Share Buyback Resolutions at the upcoming Annual General Meeting (AGM). If these resolutions are not passed, the company will not repurchase any shares.

Cancellation of AIM Admission

In addition to the share buyback, the Board proposes the cancellation of the company’s Ordinary Shares from trading on AIM. The cancellation requires the approval of shareholders holding at least 75% of votes cast at the AGM and will be proposed as a Special Resolution under the company’s articles of association. If approved, the cancellation is expected to take effect at 7:00 a.m. on 24 December 2025.

Adoption of Amended Memorandum and New Articles

The AGM will also include resolutions seeking shareholder approval for the adoption of an amended memorandum and new articles of association, which will take effect following the AIM cancellation.

Share performance of OPG

OPG’s shares traded at GBX 6.08 per share on 05 November 2025, up by 11.52% from its previous close of GBX 5.45.