26 July
2024
RECKITT
BENCKISER GROUP PLC
2024
SHARE BUYBACK PROGRAMME - FIRST TRANCHE
Reckitt Benckiser Group plc
("Reckitt" or the
"Company") announces that,
in connection with its intention to commence its next £1 billion
share buyback programme (the "Programme") which it announced on 24
July 2024, the Company today commences the first tranche of the
Programme which will return up to £250
million of capital to shareholders. The purpose of the Programme is
to reduce the share capital of the Company.
In accordance with the Company's
general authority to make market purchases of existing
ordinary shares of 10 pence each in the share
capital of the Company (the "Ordinary Shares") as granted by shareholders at the Company's Annual General
Meeting on 2 May 2024, the Company will purchase no more than
63,000,000 Ordinary Shares. The first tranche of the Programme will
commence on 26 July 2024 and is expected to end no later than 31
October 2024.
Reckitt announces that it has entered into an agreement with J.P.
Morgan Securities plc ("J.P. Morgan") under
which it has issued an instruction to J.P. Morgan to manage the
first tranche of the Programme. J.P. Morgan will, acting as
riskless principal, purchase Ordinary Shares for an aggregate
purchase price of no greater than £250 million and will
simultaneously sell such Ordinary Shares on to the
Company.
Any purchase of Ordinary Shares in
relation to this announcement will be carried out on the London
Stock Exchange and Multilateral Trading Facilities, as defined by
the Directive 2014/65/EU on markets in financial instruments
(including the delegated and implementing acts adopted under it) as
implemented, retained, amended, extended, re-enacted or otherwise
given effect in the United Kingdom from 1 January 2021 and as
amended or supplemented in the United Kingdom thereafter, and
executed in accordance with the Listing Rules and
Reckitt's general authority to make market purchases of Ordinary Shares.
The shares will be purchased in accordance with
the price and volume conditions set out in the Commission Delegated
Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation
(EU) No 596/2014 of the European Parliament and of the Council with
regard to regulatory technical standards for the conditions
applicable to buyback programmes and stabilisation measures as
implemented, retained, amended, extended, re-enacted or otherwise
given effect in the United Kingdom from 1 January 2021 and as
amended or supplemented in the United Kingdom
thereafter.
Reckitt will announce any market
repurchase of Ordinary Shares no later than 7.30 a.m.
on the business day following the calendar day on
which the repurchase occurred. To the
extent permitted by law, Ordinary Shares purchased under the first
tranche of the Programme will be held in treasury. For the
avoidance of doubt, no repurchases will be made in respect of the
Company's American Depository Receipts.
Any further tranches of the
Programme, which may be conducted after completion of this first
tranche, will be announced in due course.
This announcement does not constitute, or form part of, an
offer or any solicitation of an offer for securities in any
jurisdiction.
For
further Information:
Catheryn O'Rourke
Company Secretary
Tel +44 (0) 1753 217 800
Richard Joyce
Head of Investor
Relations
Tel. +44 (0) 7408 812062
About Reckitt:
Reckitt* exists to protect, heal and
nurture in the relentless pursuit of a cleaner, healthier world. We
believe that access to the highest-quality hygiene, wellness and
nourishment is a right, not a privilege.
Reckitt is the company behind some
of the world's most recognisable and trusted consumer brands in
hygiene, health and nutrition, including Air Wick, Calgon, Cillit
Bang, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol,
Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet,
Woolite and more.
Every day, more than 20 million
Reckitt products are bought globally. We always put consumers and
people first, seek out new opportunities, strive for excellence in
all that we do and build shared success with all our partners. We
aim to do the right thing, always.
We are a diverse global team of c.
40,000 colleagues. We draw on our collective energy to meet our
ambitions of purpose-led brands, a healthier planet and a fairer
society. Find out more, or get in touch with us
at www.reckitt.com
* Reckitt is the trading name of the
Reckitt Benckiser group of companies
Reckitt Benckiser Group plc's LEI
code is 5493003JFSMOJG48V108