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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December 03, 2021 13:16 ET (18:16 GMT)

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