Diageo PLC Diageo commences new share buy-back programme (8433P)
12 Ottobre 2023 - 8:00AM
UK Regulatory
TIDMDGE
RNS Number : 8433P
Diageo PLC
12 October 2023
Diageo commences new share buy-back programme
12 October 2023: Diageo plc (Diageo) today announces the
commencement of its new share buy-back programme, as announced in
Diageo's preliminary results for the fiscal year ended 30 June
2023. This share buy-back programme will return up to $1.0 billion
of capital to shareholders and is to be completed before the end of
fiscal 24.
Diageo is announcing today that it has entered into a
non-discretionary agreement with Merrill Lynch International to
enable the company to buy-back shares with an aggregate value of up
to $1.0 billion (net of any fees payable to or by Merrill Lynch
International under the terms of the agreement). This agreement
will commence on 12 October 2023 and will end no later than 26 June
2024. The purpose of the new share buy-back programme is to reduce
the share capital of Diageo plc. All shares repurchased under this
agreement will be cancelled.
The launch of this new programme follows the successful
completion of Diageo's additional return of capital programme
during the second half of fiscal 23 that ended on 2 June 2023, in
which GBP0.5 billion of capital was returned to shareholders.
Further details of the return of capital programme
Merrill Lynch International will make its trading decisions in
relation to Diageo's securities independently of and uninfluenced
by Diageo. 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 share buy-backs will be effected 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 (both as incorporated into UK
domestic law by the European Union (Withdrawal) Act 2018) and, in
the case of Diageo, Chapter 12 of the Listing Rules.
This share buyback programme, under which up to $1.0 billion of
shares will be repurchased, will occur within the limitations of
Diageo's existing general authority to repurchase up to 224,704,974
shares granted at its 2023 Annual General Meeting. For the
avoidance of doubt, no repurchases will be made in the United
States of America or in respect of Diageo's American Depositary
Receipts.
For further information please contact:
Investor relations:
Durga Doraisamy +44 (0) 7902 126 906
Andy Ryan +44 (0) 7803 854 842
Brian Shipman +1 (0) 917 710 3007
investor.relations@diageo.com
Media relations :
Claire Cavana +44 (0) 7751 742 072
Isabel Batchelor +44 (0) 7731 988 857
press@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands across spirits and beer
categories. These brands include Johnnie Walker, Crown Royal,
J&B and Buchanan's 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.
Diageo plc LEI: 213800ZVIELEA55JMJ32
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