Extension of Share Repurchase Programme
Source: RNS
11 September 2024
Associated British Foods plc
Associated British Foods plc extension of share repurchase programme
Further to its announcement on 5 September 2024, Associated British Foods plc (the 'Company') announces that it has entered into a non-discretionary arrangement (the 'Engagement') with Barclays Capital Securities Limited ('Barclays') to execute an additional £100 million share buyback as an extension to its share buyback programme (the 'Extended Programme').
It is anticipated that the Extended Programme will end no later than 15 November 2024 (the 'Engagement Period').
Under this arrangement, Barclays will act as riskless principal and will make decisions independently from the Company under the Engagement. Barclays 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/or other recognised investment exchange(s) 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 8 December 2023, the Market Abuse Regulation 596/2014 (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and Chapter 9.6 of the Financial Conduct Authority's UK Listing Rules.
Further enquiries:
+44 (0)20 7399 6545
Eoin Tonge, Finance Director
Chris Barrie, Corporate Affairs Director
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
