Associated British Foods PLC Share Repurchase Programme
01 Marzo 2024 - 1:00AM
RNS Regulatory News
RNS Number : 2271F
Associated British Foods PLC
01 March 2024
1
March 2024
Associated British Foods plc
Associated British Foods plc share repurchase
programme
Further to its announcements on 7 and
9 November 2023, Associated British Foods plc (the 'Company')
announces that it has entered into a non-discretionary arrangement
(the 'Engagement') with Barclays Capital Securities Limited
('Barclays') to execute the second tranche of its up to £500
million share buyback programme (the 'Programme').
The second tranche will be in the sum
of up to £250 million and will commence following
completion of the first tranche of the Programme on a date to be
announced which is expected to be no later than 1 May 2024. It is
anticipated that the second tranche will end no earlier than 30
June 2024 and no later than 1 October 2024 (the 'Engagement
Period').
Under this arrangement, Barclays will
act as riskless principal and will make decisions independently
from the Company under the Engagement. Barclays will carry out the
arrangement through the acquisition of ordinary shares in the
Company for subsequent repurchase by the Company. Purchases may
continue during any closed period to which the Company is subject
during the Engagement Period.
The sole purpose of the share buyback
is to reduce the capital of the Company. All ordinary shares
repurchased as part of this arrangement will be
cancelled.
Share purchases will take place in
open market transactions and be carried out on the London Stock
Exchange and/or other recognised investment exchange(s) and may be
made from time to time depending on market conditions, share price,
trading volume and other factors.
Any purchases of ordinary shares by
the Company in relation to this announcement will be effected
within certain pre-set parameters and in accordance with (and
subject to the limits prescribed by) the Company's general
authority to repurcha.se ordinary shares granted by its
shareholders at the Company's AGM on 8 December 2023, the Market
Abuse Regulation 596/2014 (as it forms part of UK law
pursuant to the European Union (Withdrawal) Act 2018) and Chapter
12 of the Financial Conduct Authority's Listing Rules.
Further enquiries:
+44 (0)20 7399 6545
Eoin Tonge, Finance
Director
Chris Barrie, Corporate Affairs
Director
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END
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Associated British Foods (LSE:ABF)
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