Centrica PLC Commencement of Share Buy-Back Programme (3743G)
15 Novembre 2022 - 8:00AM
UK Regulatory
TIDMCNA
RNS Number : 3743G
Centrica PLC
15 November 2022
Commencement of Share Buy-Back Programme
15 November 2022
Centrica plc (the "Company") announced in a Trading Update on 10
November 2022 a plan to commence a share repurchase programme of up
to 5% of its issued share capital (the "Programme").
The Company today announces the commencement of this Programme
which is to be conducted over the next 6.5 months to buy back
shares of 6(14/81) pence each (the "Shares") up to an aggregate
price of up to GBP250,000,000 (exclusive of associated fees,
expenses and stamp duty), representing an amount equal to the
aggregate value of approximately 5% of the Company's issued share
capital at today's share price.
The Company has entered into separate non-discretionary
agreements with UBS AG London Branch, ("UBS") and Goldman Sachs
International ("Goldman") (both acting as principal) to conduct the
buy-back Programme on its behalf and to make trading decisions
under the Programme independently of the Company.
The Programme, which is structured in two tranches, will
commence on 15 November 2022 and will end no later than 31 May
2023. In the first tranche, UBS will purchase Shares up to an
aggregate price of GBP125,000,000. Once the first tranche is
complete, under the second tranche, Goldman will purchase Shares up
to an aggregate price of GBP125,000,000. In each case, the
aggregate price is exclusive of associated fees, expenses and stamp
duty.
UBS and Goldman may effect purchases of Shares under the
Programme on the London Stock Exchange and/or other trading venues
[i] for subsequent purchase by the Company. Purchases by the
Company will be treated as being made on the London Stock Exchange.
The Company intends that the repurchased Shares will be held in
treasury.
The purpose of the Programme is to reduce the capital of the
Company.
Any Share purchases will be carried out in accordance with
certain pre-set parameters. The maximum number of Shares which may
be purchased by the Company under the programme is 590,729,053,
which is the maximum number remaining as of the date of this
announcement pursuant to the relevant authorities granted by
shareholders at the Company's Annual General Meeting held on 7 June
2022.
The Programme will be conducted within the parameters prescribed
by the Market Abuse Regulation 596/2014/EU (as in force in the UK
and as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019), the Commission Delegated Regulation 2016/1052/EU
(as in force in the UK and as amended by the FCA's Technical
Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and
in accordance with Chapter 12 of the UK Listing Rules. No
repurchases will be made in respect of the Company's American
Depositary Receipts.
The Company will make further announcements in due course
following any buy back of Shares. There is no guarantee that the
Programme will be implemented in full or that any shares will be
bought back by the Company.
[i] Chi-X and BATs
Enquiries:
Investors and Analysts
T: 01753 494900
E: ir@centrica.com
Media
T: 01784 843000
E: media@centrica.com
END
Centrica plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead Road, Windsor,
Berkshire SL4 5GD
Registered in England & Wales number: 3033654
Legal Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN number: GB00B033F229
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END
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