**Summary**
ME Group International PLC (LONMEGP) has announced a General Meeting (GM) scheduled for February 26, 2026, to seek shareholder approval for a proposed share buyback authority and a Rule 9 waiver from the Takeover Code. The company aims to reacquire up to 37,772,333 ordinary shares (10% of its issued share capital) under the same pricing parameters as previously approved, with the authority expiring at the 2027 AGM.
The move is driven by the company’s strong cash position and the Board’s desire to utilize buybacks when in the best interests of shareholders. Historically, the company has been restricted from executing buybacks due to the Concert Party’s ownership stake (over 30% but under 50% of voting rights), which could trigger a mandatory offer under Rule 9 of the City Code. The Panel on Takeovers and Mergers has agreed to waive this obligation, subject to approval by independent shareholders at the GM.
The Circular detailing the Repurchase Resolution and Waiver Resolution is available on ME Group’s website. The company, a leader in automated self-service equipment, operates across 18 countries with services including photobooths, laundry, digital printing, and vending solutions.
**Key Points**
1. **General Meeting** Scheduled for February 26, 2026, to approve share buyback and Rule 9 waiver.
2. **Share Buyback** Proposed authority to repurchase up to 10% of issued shares, expiring at the 2027 AGM.
3. **Rule 9 Waiver** Approved by the Takeover Panel, subject to shareholder approval, to avoid mandatory offer obligations for the Concert Party.
4. **Rationale** Strong cash position and flexibility to act in shareholders’ best interests.
5. **Company Overview** International leader in automated self-service equipment, operating across 18 countries.