Greencore Group PLC Launch of Fourth Share Buyback Programme (4802P)
10 Octobre 2023 - 8:10AM
UK Regulatory
TIDMGNC
RNS Number : 4802P
Greencore Group PLC
10 October 2023
10 October 2023
Greencore Group plc
Launch of Fourth Share Buyback Programme
Greencore Group plc ('Greencore' or the 'Group'), a leading
manufacturer of convenience foods in the UK, today announces its
intention to re-commence its share buyback programme ('Programme')
as part of a GBP50 million return of capital to shareholders as
announced in May 2022.
To date Greencore has returned GBP35 million of the intended
GBP50 million return of capital.
Following the completion of the recent GBP10 million share
buyback programme between May and August 2023, Greencore today
announces that it has entered into non-discretionary arrangements
with Goodbody Stockbrokers UC acting as agent to conduct a further
share buyback programme and to buy back ordinary shares (the
'Shares') for a maximum aggregate consideration of up to GBP15
million and to make trading decisions under the Programme
independently of the Group in accordance with certain pre-set
parameters (the 'Buyback').
The Buyback will commence today 10 October 2023 and will end no
later than 30 March 2024 subject to market conditions. Under the
terms of the Programme, the Shares will be repurchased on the
London Stock Exchange and will be cancelled.
The maximum number of Shares which can be repurchased under the
Buyback is 26,570,928 Shares. The purpose of the Buyback is to
reduce the share capital of the Company in line with this
announcement. It will be conducted at all times within the limits
of the applicable authority granted by shareholders to repurchase
the Company's ordinary shares in issue.
The Buyback will also be conducted within the parameters
prescribed by the Market Abuse Regulation 596/2014 and the
Commission Delegated Regulation (EU) 2016/1052 (also as in force in
the UK, from time to time, including, where relevant, pursuant to
the UK's European Union (Withdrawal) Act 2018 and the Market Abuse
(Amendment) (EU Exit) Regulations 2019) as well as the applicable
laws and regulations of the UK Financial Conduct Authority.
The Programme may be augmented by the purchase of Shares by way
of block trades in accordance with the Company's general authority
to repurchase shares.
The Group 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 Group.
Commenting on the launch, Dalton Philips, Chief Executive
Officer, said:
"We are pleased to launch our fourth share buyback programme
since May 2022 today as part of our wider commitment to return
GBP50 million to shareholders by May 2024. With our strong balance
sheet and continued optimism around our business prospects, we
retain the ongoing flexibility to return value in the form of
buyback, dividends or both and will continue to assess our capital
returns policy at the time of year end results."
For further information, please contact:
Jonathan Solesbury Interim Chief Financial Tel: +353 (0) 1 605
Officer 1000
Damien Moynagh General Counsel & Company Tel: +353 (0) 1 605
Secretary 1000
Curtis Armstrong Director of FP&A and IR Tel: +44 (0) 1246
384649
David Marshall Head of Capital Markets Tel: +353 (0) 1 605
Jonathan Neilan FTI 1000
/ Nick Hasell Tel: +353 (0) 86 231
4135
Tel: +44 (0) 203 727
1340
FTI_Greencore@fticonsulting.com
About Greencore
We are a leading manufacturer of convenience food in the UK and
our purpose is to make every day taste better. To help us achieve
this we have a model called The Greencore Way, which is built on
the differentiators of People at the Core, Great Food, Excellence
and Sustainability - The Greencore Way describes both who we are
and how we will succeed.
In FY22 we manufactured 795m sandwiches and other food to go
products, 127m chilled prepared meals, and 249m bottles of cooking
sauces, pickles and condiments. We carry out more than 10,600
direct to store deliveries each day. We have 16 world-class
manufacturing sites and 18 distribution centres in the UK, with
industry-leading technology and supply chain capabilities. We
generated revenues of GBP1.7bn in FY22 and employ more than 14,000
people. We are headquartered in Dublin, Ireland.
For further information go to www.greencore.com or follow
Greencore on social media.
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