TIDMABDN

RNS Number : 4336R

abrdn PLC

06 July 2022

abrdn plc ("the Company")

Share Repurchase Programme

The Company today announces that it will commence a return of GBP300m through the repurchase of the Company's ordinary shares, with a first phase of up to GBP150m ("the Programme") being undertaken by Goldman Sachs International ("Goldman Sachs") under the terms set out below.

On 6 July 2022, the Company entered into an irrevocable agreement with Goldman Sachs International ("Goldman Sachs") in relation to the purchase by Goldman Sachs, for the Company, of ordinary shares in the Company's share capital (the "Shares") for an aggregate consideration of no greater than GBP150m. Goldman Sachs will make trading decisions in relation to the buyback pursuant to the Programme independently of, and uninfluenced by, the Company with regard to the timing of the purchases. The purchase of Shares will take place during the period commencing on 6 July 2022 and ending no later than 30 December 2022.

Any purchase of Shares made in relation to the Programme will be executed in accordance with the UK Listing Rules and the Company's authority to make market purchases of Shares and carried out on the London Stock Exchange and/or Cboe Europe Limited. The Company will announce any market repurchase of Shares no later than 7.30 a.m. on the exchange trading day following the calendar day on which the repurchase occurred. The purpose of the Programme is to return excess capital to shareholders. All Shares purchased will be cancelled.

6 July 2022

Enquiries:

 
Institutional Equity Investors 
 Catherine Nash                    +44 (0) 7798 518 657 
Media 
 Andrea Ward                       +44 (0) 7876 178 696 
Group Secretariat 
 Kenneth Gilmour                   + 44 (0) 7734 974 073

LEI: OTMBS544NMO7GLCE7H90

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCVELFBLDLXBBD

(END) Dow Jones Newswires

July 06, 2022 02:00 ET (06:00 GMT)

Abrdn (LSE:ABDN)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Abrdn.
Abrdn (LSE:ABDN)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Abrdn.