Business
Share Buyback Programme
Share Buyback Programme.
About this update from Great Portland Estates Plc
[{"type":"text","content":"\n \nRNS Number : 4042H Great Portland Estates PLC 15 November 2018 \n\n15 November 2018\n \n \nGREAT PORTLAND ESTATES PLC\n(the Company)\n \nShare Buyback Programme\n \nOn 15 November 2018, the Company announced its intention to repurchase up to £200.0 million of shares. The Company announces today that it has entered into an arrangement with Merrill Lynch International and J.P. Morgan Securities plc to repurchase ordinary shares in the Company up to a maximum aggregate consideration of £200.0 million (the Buyback Programme).\n \nThe Buyback Programme will be subject to certain pre-set parameters and will be executed during a 12-month period from 15 November 2018 up to and including 14 November 2019, unless terminated by either the Company, Merrill Lynch International and/or J.P. Morgan Securities plc in accordance with the respective arrangements (the Engagement Period), including during any closed period of the Company which may fall during the Engagement Period. The purpose of the Buyback Programme is to reduce the share capital of the Company (any shares repurchased for this purpose will be cancelled). \n \nThe maximum aggregate number of shares that will be repurchased is 42,221,384 ordinary shares. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.\n \n \nContacts:\n\n\n\nGreat Portland Estates plc\n\n\n\n\nNick Sanderson\n\n\nFinance Director\n\n\n020 7647 3034\n\n\n\n \nThis announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the Company is Desna Martin, Company Secretary.\n \nLEI number of Great Portland Estates PLC: \n213800JMEDD2Q4N1MC42\n \n \n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END POSFFLFALFASEIF\n ","length":4203,"tagName":"div"}]