Vanguard Discloses Stake in Redrow PLC Amid Market Movements

The Vanguard Group, Inc. has publicly disclosed a significant interest in Redrow PLC, outlining its position as part of compliance with the Takeover Code (the "Code"). Notably, as of 15 March 2024, Vanguard holds a 3.91% stake in the housebuilding company, represented by 12,930,105 shares of the 10.5p ordinary class. This disclosure falls under Rule 8.3 of the Code, triggered by individuals or entities holding interests in relevant securities of 1% or more.

The filing also notes dealings in Redrow PLC securities, encompassing both purchases and sales across different transactions. Purchases included 4,367 shares at 6.54 GBP each and 2,619 shares at 6.55 GBP each. Concurrently, sales were recorded for 496,695 shares at 6.54 GBP and 8,275 shares at 6.55 GBP respectively. These transactions reflect the dynamic trading activities surrounding Redrow PLC's securities in recent times.

Additionally, Vanguard disclosed interest in another company within the sector, Barratt Developments plc, indicating the broad scope of the investment manager’s engagements in the UK’s real estate and construction sectors. The disclosure underscores the significance of transparency in market transactions, particularly those involving major stakeholders and entities subject to the UK's Takeover Code. Vanguard affirmed no agreements, arrangements, or understandings related to relevant securities that may influence market dealings.