20 June
2024
Tate & Lyle PLC
ANNOUNCEMENT OF THE COMMENCEMENT OF
A
NON-DISCRETIONARY SHARE BUYBACK
PROGRAMME
Tate & Lyle PLC (the "Company") announces that it will
shortly commence a share buyback programme (the "Programme") of up to £215
million.
On 23 May 2024, the Company announced the
intention to return the net cash proceeds from the sale of its
remaining interest in Primient to shareholders through an on-market
share buyback programme. Previously, this programme was due
to start following completion of the Primient sale, but it is now
being initiated today.
The Programme, which is non-discretionary, will
commence on 20 June 2024 and will end on or before 31 March
2025.
The sole purpose of the Programme is to reduce
the Company's share capital.
The Company has entered into an agreement with
Merrill Lynch International (the "Broker") to conduct the Programme
on its behalf and to make trading decisions under the programme
independently of the Company. The Broker will purchase the
Company's ordinary shares as principal and sell them on to the
Company in accordance with the terms of their engagement. The
Company intends to hold the shares it purchases through the
programme as treasury shares.
Any purchases of ordinary shares by the Company
in relation to this announcement will be made in accordance with
certain pre-set parameters set out in the terms of the Broker's
engagement, the general authority of the Company to repurchase
shares granted by shareholders at the Company's Annual General
Meeting held on 27 July 2023 (which permits the Company to purchase
no more than 40,165,770 of the Company's ordinary
shares).
The LEI reference for Tate & Lyle PLC is
2138008K14474WPKZ244.
End
For further information please
contact:
Christopher Marsh, VP, Investor
Relations
Mobile: +44 (0)7796 192 688
Nick Hasell (FTI Consulting), Media
Relations
Mobile: +44 (0)7825 523 383
About Tate
& Lyle:
Supported by our 160-year history of ingredient
innovation, we partner with customers to provide consumers with
healthier and tastier choices when they eat and drink. We are proud
that millions of people around the world consume products
containing our ingredients every day. Through our expertise
in sweetening, fortification, and texture, we develop ingredient
solutions which reduce sugar, calories, and fat, add fibre and
protein, and provide texture and stability in categories including
beverages, dairy, bakery, snacks, soups, sauces, and
dressings.
We have more than 3,300 employees working in
around 58 locations serving customers across 121 countries.
Science, Solutions, Society is our brand promise and how we will
achieve our purpose of Transforming Lives Through the Science of
Food. By living our purpose we believe we can successfully grow our
business and have a positive impact on society. We live our purpose
in three ways, by supporting healthy living, building thriving
communities and caring for our planet.
Tate & Lyle is listed on the London Stock
Exchange under the symbol TATE.L. American Depositary Receipts
trade under TATYY. In the year to 31 March 2024, Tate & Lyle
revenue from continuing operations totalled £1.65 billion.
For more information, please visit https://www.tateandlyle.com
or follow Tate & Lyle on X, Linkedin,
Facebook
or YouTube.