Business
2024 SHARE BUYBACK PROGRAMME – FIRST TRANCHE
2024 SHARE BUYBACK PROGRAMME – FIRST TRANCHE.
About this update from Reckitt Benckiser Group Plc
[{"type":"text","content":"\n\n26 July 2024\n \nRECKITT BENCKISER GROUP PLC\n \n2024 SHARE BUYBACK PROGRAMME - FIRST TRANCHE\n \nReckitt 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.\n \nIn 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.\n \nReckitt 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.\n \nAny 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 ...