Issued: 24 February 2025, London
UK
GSK
plc commences share buyback programme
GSK plc ("GSK") today announces the commencement of its share buyback
programme (the "Programme"),
as announced in its 2024 full year results announcement published
on 5 February 2025 (the "FY24 Results
Date"). The Programme will return an
additional £2 billion of capital to shareholders and is expected to
be completed within 18 months of the FY24 Results Date. The
Programme will commence today with an initial tranche of up to £0.7
billion.
GSK has entered into a
non-discretionary agreement with Citigroup Global Markets Limited
("Citi"), enabling GSK to buy
back ordinary shares of 31¼ pence each in GSK ("Ordinary
Shares") with an aggregate value of
up to £0.7 billion (the "First
Tranche").
Purchases of Ordinary Shares under the First Tranche are expected
to commence on 24 February 2025 and to be completed by 13 June
2025.
The purpose of the Programme is to
return excess capital to shareholders and reduce the share capital
of the company, and it is expected that the implementation of the
Programme will enhance earnings per share. Ordinary Shares
purchased under the First Tranche will be held as Treasury
shares.
Citi will make trading decisions in
relation to the First Tranche independently of GSK with regard to
the timing of purchases. Any purchase of
Ordinary Shares by Citi contemplated by this announcement will be
carried out on the London Stock Exchange and/or Cboe Europe Limited
through the BXE and CXE order books. Any purchases of Ordinary
Shares by GSK from Citi under the First Tranche will be carried out
on the London Stock Exchange.
The First Tranche will be effected
within certain pre-set parameters and in accordance with GSK's
general authority to repurchase shares and will be conducted within
the parameters prescribed by the Market Abuse Regulation 596/2014,
the Commission Delegated Regulation (EU) 2016/1052 (both as
incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018) as well as applicable laws and the
regulations of the UK Financial Conduct Authority (including
Chapter 9 of the Listing Rules).
The First Tranche will occur within
the limitations of GSK's existing general authority to repurchase
up to 411,703,340 Ordinary Shares granted at its 2024 Annual
General Meeting.
No repurchases will be made in the
United States of America or in respect of GSK's American Depositary
Receipts.
About GSK
GSK is a global biopharma company
with a purpose to unite science, technology, and talent to get
ahead of disease together. Find out more at gsk.com.
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GSK
enquiries
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Media:
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Tim Foley
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+44 (0) 20 8047 5502
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(London)
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Kathleen Quinn
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+1 202 603 5003
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(Washington DC)
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Investor Relations:
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Annabel Brownrigg-Gleeson
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+44 (0) 7901 101944
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(London)
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James Dodwell
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+44 (0) 20 8047 2406
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(London)
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Mick Readey
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+44 (0) 7990 339653
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(London)
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Camilla Campbell
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+44 (0) 7803 050238
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(London)
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Steph Mountifield
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+44 (0) 7796 707505
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(London)
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Jeff McLaughlin
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+1 215 751 7002
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(Philadelphia)
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Frannie DeFranco
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+1 215 751 4855
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(Philadelphia)
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Cautionary statement regarding forward-looking
statements
GSK cautions
investors that any forward-looking statements or projections made
by GSK, including those made in this announcement, are subject to
risks and uncertainties that may cause actual results to differ
materially from those projected. Such factors include, but are not
limited to, those described under Item 3.D "Risk factors" in GSK's
Annual Report on Form 20-F for 2023, and GSK's Q4 Results for
2024.
Registered in England & Wales:
No. 3888792
Registered Office:
79 New Oxford Street
London
WC1A 1DG
