27
March 2024
Deliveroo plc
("Deliveroo" or the "Company")
EBT Share Purchase
Programme
Further to the Company's Preliminary
Results Announcement on 14 March 2024, the Company
today announces that Ocorian Limited ("Ocorian" or the "Trustee"), which administers the
Company's employee benefit trust (the Roofoods Ltd Employee
Benefit Trust), ("EBT")
will commence a share purchase programme of
up to £30 million to acquire Class A Ordinary Shares of 0.5p each
in the Company (the "Shares") for the purpose of mitigating
dilution from share-based compensation plans (the "EBT Share Purchase Programme").
Shares purchased under the
EBT Share Purchase Programme will be used to satisfy employee
share-based compensation awards.
Under the EBT Share Purchase
Programme, the Trustee will instruct Goldman Sachs International,
as broker, to acquire the Shares for the
EBT. Purchases will be up to £30 million in value of Shares (by
market value and inclusive of stamp duty and broker costs and
commissions) (the "Target Notional"). The EBT Share
Purchase Programme is expected to commence shortly and shall,
unless terminated by either Goldman Sachs International (the
"Broker") or the Trustee at an
earlier date, be subject to an end date of 31 December 2024 (or, if
earlier, the date on which the Target Notional has been
purchased).
Purchases will be carried out in
compliance with the provisions of Chapter 12 of the Financial
Conduct Authority's Listing Rules in respect of price and volume
requirements, Article 5 of the Market Abuse Regulation No.596/2014
and Article 3 of Commission Delegated Regulation (EU) 2016/1052,
which require that: (a) the maximum price paid for such
Shares shall be an amount equal to the higher of:
(i) 5% above the average of the closing price of the Shares as
derived from the Primary Exchange Daily Official List for the five
business days before the purchase is made; (ii) the price of the
last independent trade of Shares on the venue where the purchase is
carried out; (iii) the highest current independent bid for a Share
as derived from the trading venue where the purchase is carried
out; and (b) purchases of such Shares will be limited to 25% of the
average daily volume of Shares for the last 20 days on the trading
venue on which the purchases are carried out.
The Trustee has absolute discretion and independence in respect of all trading
decisions it may make in respect of the purchase of Shares pursuant
to the EBT Share Purchase Programme.
About Deliveroo
Deliveroo is an award-winning
delivery service founded in 2013 by William Shu and Greg Orlowski.
Deliveroo works with approximately 183,000 best-loved restaurants,
grocery and retail partners, as well as around 135,000 riders to
provide the best food delivery experience in the world. Deliveroo
is headquartered in London, with offices around the globe.
Deliveroo operates across 10 markets, including Belgium, France,
Hong Kong, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab
Emirates and the United Kingdom. Further information regarding
Deliveroo is available on the Company's website
at https://corporate.deliveroo.co.uk/.