Associated British Foods PLC Share Repurchase Programme (7837X)
28 Avril 2023 - 8:04AM
UK Regulatory
TIDMABF
RNS Number : 7837X
Associated British Foods PLC
28 April 2023
Associated British Foods plc
28 April 2023
Associated British Foods plc share repurchase programme
Further to its announcements on 8 and 9 November 2022,
Associated British Foods plc (the 'Company') announces that it has
entered into a non-discretionary arrangement (the 'Engagement')
with Credit Suisse International ('CSI') to execute the second
tranche of its up to GBP500 million share buyback programme (the
'Programme').
The second tranche will be in the sum of up to GBP250 million
and will commence following completion of the first tranche of the
Programme on a date to be announced. It is anticipated that the
second tranche will end before 31 October 2023 (the 'Engagement
Period').
Under this arrangement, CSI will act as riskless principal and
will make decisions independently from the Company under the
Engagement. CSI will carry out the arrangement through the
acquisition of ordinary shares in the Company for subsequent
repurchase by the Company. Purchases may continue during any closed
period to which the Company is subject during the Engagement
Period.
The sole purpose of the share buyback is to reduce the capital
of the Company. All ordinary shares repurchased as part of this
arrangement will be cancelled.
Share purchases will take place in open market transactions and
be carried out on the London Stock Exchange and may be made from
time to time depending on market conditions, share price, trading
volume and other factors.
Any purchases of ordinary shares by the Company in relation to
this announcement will be effected within certain pre-set
parameters and in accordance with (and subject to the limits
prescribed by) the Company's general authority to repurchase
ordinary shares granted by its shareholders at the Company's AGM on
9 December 2022 (at which shareholders gave the Company authority
to purchase a maximum of 79,167,418 ordinary shares), the Market
Abuse Regulation 596/2014 (as it forms part of UK law pursuant to
the European Union (Withdrawal) Act 2018) and Chapter 12 of the
Financial Conduct Authority's Listing Rules.
Further enquiries:
+44 (0)20 7399 6545
Eoin Tonge, Finance Director
Chris Barrie, Corporate Affairs Director
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END
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April 28, 2023 02:04 ET (06:04 GMT)
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