Business
Commencement of On-Market Share Buyback Programme
Commencement of On-Market Share Buyback Programme.
About this update from Haleon Plc
[{"type":"text","content":"\n\n\n \nHaleon plc: Commencement of On-Market Share Buyback Programme\n \n1 August 2024: Haleon plc (the \"Company\", or \"Haleon\") announces that, as set out in the 2024 Half year results announcement released today, it is commencing a share buyback programme to purchase ordinary shares of £0.01 each in the Company (the \"Shares\") up to an aggregate consideration of £185 million (the \"Buyback Programme\"), in line with its stated capital allocation priorities.\n \nThe Buyback Programme represents the remainder of the £500 million allocated to share buybacks in 2024 announced on 29 February 2024, following completion of the off-market purchase of Shares from Pfizer Inc. announced on 21 March 2024. All Shares purchased by the Company under the Buyback Programme will be cancelled. The purpose of the Buyback Programme is to reduce share capital and is in line with the Company's capital allocation priorities.\n \nThe Company has entered into an arrangement with HSBC Bank plc (\"HSBC\") for the purchase by HSBC (acting as principal) of the Shares through daily instructions that may be provided by Haleon during the Buyback Programme. Under the Buyback Programme, Haleon will, subject to applicable law and regulation, have discretion as to whether to provide a daily instruction to HSBC. No daily instructions will be provided by Haleon during its closed periods.\n \nThe Buyback Programme commences today and will end no later than 31 December 2024. Under the terms of the Buyback Programme, any purchase of Shares by HSBC will be carried out on the London Stock Exchange.\n \nThere is no guarantee that the Buyback Programme will be implemented in full or of the number of Shares that will be bought back by the Company. The Company will make further regulatory announcements in respect of purchases of Shares under the Buyback Programme as they occur.\n \nNotes\nThe maximum number of Shares that may be purchased under the Buyback Programme is 913,000,000, being the number of Shares the Company is authorised to purchase pursuant to its general authority to make market purchases granted at its Annual General Meeting held on 8 May 2024 (the \"AGM Authority\"). To date, no Shares have been purchased pursuant to the AGM Authority.\n \nAny purchases of Shares contemplated by this announcement will be ef...