Haleon plc:
Commencement of
On-Market Share Buyback Programme
1
August 2024: Haleon plc (the
"Company", or "Haleon") announces that, as set out in the 2024 Half
year results announcement released today, it is commencing a share
buyback programme to purchase ordinary shares of £0.01 each in the
Company (the "Shares") up to an aggregate consideration of £185
million (the "Buyback Programme"), in line with its stated capital
allocation priorities.
The Buyback Programme represents the
remainder of the £500 million allocated to share buybacks in 2024
announced on 29 February 2024, following completion of the
off-market purchase of Shares from Pfizer Inc. announced on 21
March 2024. All Shares purchased by the Company under the Buyback
Programme will be cancelled. The purpose of the Buyback Programme
is to reduce share capital and is in line with the Company's
capital allocation priorities.
The Company has entered into an
arrangement with HSBC Bank plc ("HSBC") for the purchase by HSBC
(acting as principal) of the Shares through daily instructions that
may be provided by Haleon during the Buyback Programme. Under
the Buyback Programme, Haleon will, subject to applicable law and
regulation, have discretion as to whether to provide a daily
instruction to HSBC. No daily instructions will be provided by
Haleon during its closed periods.
The Buyback Programme commences
today and will end no later than 31 December 2024. Under the terms
of the Buyback Programme, any purchase of Shares by HSBC will be
carried out on the London Stock Exchange.
There is no guarantee that the
Buyback Programme will be implemented in full or of the number of
Shares that will be bought back by the Company. The Company will make further regulatory announcements in
respect of purchases of Shares under the Buyback Programme as they
occur.
Notes
The maximum number of Shares that
may be purchased under the Buyback Programme is 913,000,000, being
the number of Shares the Company is authorised to purchase pursuant
to its general authority to make market purchases granted at its
Annual General Meeting held on 8 May 2024 (the "AGM Authority"). To
date, no Shares have been purchased pursuant to the AGM
Authority.
Any purchases of Shares contemplated
by this announcement will be effected within certain pre-set
parameters. The Buyback Programme will operate in accordance with
(i) the AGM Authority; (ii) the assimilated UK Market Abuse
Regulation No. 596/2014 and assimilated Commission Delegated
Regulation (EU) 2016/1052 (in each case as they form part of law of
the United Kingdom by virtue of the European Union (Withdrawal) Act
2018) and (iii) Chapter 9 of the UK Financial Conduct Authority's
UK Listing Rules.
About Haleon
Haleon (LSE / NYSE: HLN) is a global
leader in consumer health, with a purpose to deliver better
everyday health with humanity. Haleon's product portfolio spans
five major categories - Oral Health, Pain Relief, Respiratory
Health, Digestive Health and Other, and Vitamins, Minerals and
Supplements (VMS). Its long-standing brands - such as Advil,
Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident,
parodontax and Centrum - are built on trusted science, innovation
and deep human understanding.
For more information, please
visit www.haleon.com.