Centrica plc
8 August
2024
Commencement of Share Buyback Extension
As set out with its 2024 Interim
Results on 25th July 2024, Centrica plc (the "Company") announces
the commencement of a £200 million extension of the Company's share
repurchase programme to be completed by the end of February 2025
("the Extension").
Since 15 November 2022 the Company
has repurchased approximately £1 billion of its ordinary shares,
representing almost 14% of the Company's issued share capital at
that date.
For the Extension, the Company has
entered into an irrevocable arrangement with Goldman Sachs
International (acting as riskless principal) to conduct the share
repurchases on its behalf and to make trading decisions in respect
of the Extension independently of the Company.
The arrangement with Goldman Sachs
International enables the purchase of ordinary shares for a period
from 8 August 2024 up to and including 28 February 2025. The
aggregate maximum consideration for the purchase of ordinary shares
under the Extension is £200 million (exclusive of associated fees,
expenses and stamp duty). Goldman Sachs International may effect
purchases of shares under the Extension on the London Stock
Exchange and/or other trading venues for subsequent purchase by the
Company. Purchases by the Company will be treated as being made on
the London Stock Exchange. The Company intends that any shares
purchased will be cancelled, held in treasury, or used for the
purposes of employee share schemes.
The purpose of the Extension is to
reduce the capital of the Company.
Any share purchase will be carried
out in accordance with certain pre-set parameters. The maximum
number of ordinary shares which may be purchased by the Company
under the Extension is 536,039,506 which is the maximum pursuant to
the authority granted by shareholders at the Company's 2024 Annual
General Meeting.
The Extension will be conducted
within the parameters prescribed by the Market Abuse Regulation
596/2014/EU (as in force in the UK and as amended by the Market
Abuse (Amendment) (EU Exit) Regulations 2019), the Commission
Delegated Regulation 2016/1052/EU (as in force in the UK and as
amended by the FCA's Technical Standards (Market Abuse Regulation)
(EU Exit) Instrument 2019) and in accordance with Chapter 9 of the
UK Listing Rules. No repurchases will be made in respect of the
Company's American Depositary Receipts.
The Company will make further
announcements in due course following any repurchase of shares.
There is no guarantee that the Extension will be implemented in
full or that any shares will be bought back by the
Company.
Enquiries:
Investors and Analysts
T: 01753 494900
E: ir@centrica.com
Media
T: 01784 843000
E: media@centrica.com
END
Centrica
plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead Road, Windsor,
Berkshire SL4 5GD
Registered in England & Wales number: 3033654
Legal
Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN
number: GB00B033F229