Kerry Group PLC Kerry Launches EUR300m Share Buyback Programme (9251R)
01 Novembre 2023 - 8:00AM
UK Regulatory
TIDMKYGA
RNS Number : 9251R
Kerry Group PLC
01 November 2023
1 November 2023
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP PLC
Regulatory Announcement
KERRY GROUP PLC LAUNCHES EUR300m SHARE BUYBACK PROGRAMME
On 26 October 2023, Kerry Group plc ("Kerry" or the "Company")
announced its intention to launch a share buyback programme of up
to EUR300 million (the "Buyback Programme"). The Buyback Programme
is underpinned by the Group's strong balance sheet and cash flow
and is aligned to Kerry's Capital Allocation Framework.
Kerry announces that, pursuant to the Buyback Programme, it has
entered into non-discretionary arrangements with J&E Davy and
Goldman Sachs International (the "Banks") to purchase up to EUR300
million of Kerry's A Ordinary Shares of EUR0.125 each (the
"Shares") on its behalf, and to make trading decisions under the
Buyback Programme independently of Kerry in accordance with certain
pre-set parameters.
The Buyback Programme will commence today, 1 November 2023 and
will end no later than 30 April 2024. All Shares will be purchased
by the Banks on the Company's behalf (on a riskless principal
basis) on Euronext Dublin for subsequent repurchase by the Company
on Euronext Dublin or the London Stock Exchange.
The purpose of the Buyback Programme is to reduce the share
capital of the Company and as such, the Company will cancel any
Shares repurchased.
The Buyback Programme will be carried out within certain pre-set
parameters and within the limitations of the share buyback
authority granted at Kerry's Annual General Meeting on 27 April
2023 and any renewal of that authority. The maximum number of
Shares that may be purchased under the Buyback Programme is
17,707,452 Shares.
The Buyback Programme will be conducted in accordance with the
relevant provisions of the Market Abuse Regulation 596/2014/EU
("MAR" and including MAR as in force in the UK and as amended by
the Market Abuse (Amendment) (EU Exit) Regulations 2019) and the
Commission Delegated Regulation (EU) 2016/1052 (including as in
force in the UK and as amended by the FCA's Technical Standards
(Market Abuse Regulation) (EU Exit) Instrument 2019) as well as the
rules of the Central Bank of Ireland.
Any repurchase of Shares will be announced no later than 7:30am
on the business day following the calendar day on which the
repurchase occurred.
CONTACT INFORMATION
=======================================
Group Secretary
Ronan Deasy
+353 66 7182000 | TraleeCoSec@kerry.ie
Website
www.kerry.com
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END
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(END) Dow Jones Newswires
November 01, 2023 03:00 ET (07:00 GMT)
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