Diageo PLC Share repurchase programme (3507P)
07 Febbraio 2019 - 8:18AM
UK Regulatory
TIDMDGE
RNS Number : 3507P
Diageo PLC
07 February 2019
7 February 2019
Diageo plc share repurchase programme
On 30 January 2019, the Board of Diageo plc approved an increase
to the share buyback programme taking place during the financial
year ending 30 June 2019 ("the F19 Programme"). The F19 Programme
will now return up to GBP3.0 billion to shareholders.
During the first tranche of the F19 Programme, which ended on 31
January 2019, Diageo repurchased 47,920,097 shares worth GBP1.3
billion. In order to execute the second tranche of the F19
Programme, Diageo today announces that it has entered into a
non-discretionary agreement with Citigroup Global Markets Limited
("Citi"). This agreement will commence on 7 February 2019 and is
expected to end no later than 30 June 2019. During the second
tranche, share repurchases of up to GBP1.7 billion will be
made.
Citi will make its trading decisions in relation to the
company's securities independently of, and uninfluenced by, the
company. Any repurchase of shares by Diageo contemplated by this
announcement will be carried out on the London Stock Exchange
and/or other recognised investment exchange(s).
The purpose of the buyback programme is to reduce the share
capital of Diageo plc. All shares repurchased will be
cancelled.
The buybacks will be affected within certain pre-set parameters
and in accordance with Diageo'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 and, in the case of Diageo plc, Chapter
12 of the Listing Rules.
The second tranche of the F19 Programme of up to GBP1.7 billion
will fall within the maximum number of shares that may be
repurchased pursuant to Diageo's existing general authority from
shareholders to repurchase up to 246,118,306 shares, as granted at
its 2018 annual general meeting.
ENDS
For further information
Media relations: Jessica Rouleau +44 (0)7925 642561
press@diageo.com
Investor relations: Andy Ryan +44 (0) 20 8978 6504
investor.relations@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown
Royal, J B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and
Guinness.
Diageo is a global company, and our products are sold in more
than 180 countries around the world. The company is listed on both
the London Stock Exchange (DGE) and the New York Stock Exchange
(DEO). For more information about Diageo, our people, our brands,
and performance, visit us at www.diageo.com. Visit Diageo's global
responsible drinking resource, www.DRINKiQ.com for information,
initiatives, and ways to share best practice.
Celebrating life, every day, everywhere.
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END
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