Burberry Group PLC Transaction in Own Shares (5890U)
03 Diciembre 2021 - 12:16PM
UK Regulatory
TIDMBRBY
RNS Number : 5890U
Burberry Group PLC
03 December 2021
BURBERRY GROUP PLC
BURBERRY GROUP PLC - SHARE REPURCHASE PROGRAMME
Burberry Group plc ("Burberry" or the "Company") announces that
it will commence a share repurchase programme up to a maximum
consideration of GBP150m as announced on 11 November 2021 (the
"Programme").
The Programme is subject to remaining within the authority
granted at the Annual General Meeting on 14 July 2021 (the "AGM")
(the AGM authority is for a maximum of 40,486,000 shares) and will
take place during the period starting on 6 December 2021 and ending
no later than 30 March 2022 (the "Engagement Period"). The Company
has entered into an agreement with J.P. Morgan Securities plc
("JPMS plc") under which it has issued an irrevocable instruction
to JPMS plc to manage the share buyback programme.
JPMS plc will carry out the instruction through the acquisition
of ordinary shares in the Company for subsequent repurchase by the
Company. This arrangement is in accordance with Chapter 12 of the
FCA Listing Rules and the Company's general authority to repurchase
shares. Burberry 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 Programme
will be held in treasury and used to meet obligations arising from
employee share plans.
JPMS plc may undertake transactions in shares (which may include
sales and hedging activities, in addition to purchases which may
take place on any available trading venue or on an over the counter
basis) during the Engagement Period in order to manage its market
exposure under the Programme. Disclosure of such transactions will
not be made by JPMS plc as a result of or as part of the Programme,
but JPMS plc will continue to make any disclosures it is otherwise
legally required to make.
Enquiries
Investors and analysts
Julian Easthope VP, Investor Relations 020 3367 4458
Julian.Easthope@burberry.com
Media
Andrew Roberts VP, Corporate Relations 020 3367 3764
Andrew.Roberts@burberry.com
This announcement does not constitute an invitation to
underwrite, subscribe for or otherwise acquire or dispose of any
Burberry Group plc shares, in the UK, or in the US, or under the US
Securities Act 1933 or in any other jurisdiction.
Burberry is listed on the London Stock Exchange (BRBY.L) and is
a constituent of the FTSE 100 index. ADR symbol OTC:BURBY.
BURBERRY, the Equestrian Knight Device, the Burberry Check and
the Thomas Burberry Monogram and Print are trademarks belonging to
Burberry.
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END
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December 03, 2021 13:16 ET (18:16 GMT)
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