Purchase of own shares in closed period

RNS Number : 2373O
Imperial Brands PLC
30 September 2019
 

 

Imperial Brands PLC

 

Share buy-back programme

 

Imperial Brands PLC (the "Company") announces that, as part of its continued execution of the share repurchase programme that was announced by the Company on 8 July 2019 (the "Programme"), it has entered into an irrevocable and non-discretionary arrangement with its broker Barclays Bank PLC ("Barclays"), allowing Barclays to purchase up to 90,139,662 ordinary shares in the Company during the period commencing from 1 October 2019 and ending no later than 4 November 2019.  These share purchases will be made on the Company's behalf and in accordance with the arrangement, shall be made independently of, and uninfluenced by, the Company. The maximum pecuniary amount allocated to this tranche of the Programme is £50 million. This tranche of the Programme forms part of the announced intention for the Company to purchase shares up to £200 million under the various arrangements entered into with Barclays, which includes the shares to be repurchased by way of today's announced arrangement.

 

As announced on 8 July 2019, the Company's shareholders generally authorised the Company to purchase up to a maximum of 95,370,000, with this authority granted at the 2019 Annual General Meeting held on 6 February 2019. Pursuant to such authority, the Company intends to purchase shares during the period commencing 10 July 2019 and ending no later than 31 December 2019. The aggregate number of shares acquired by the Company pursuant to the Programme shall not exceed the maximum number of shares which the Company is authorised to purchase pursuant to such general authorities. It is intended that any shares repurchased under the Programme will be cancelled.

 

The purpose of the Programme is to reduce the capital of Imperial Brands PLC.  Any purchases of shares by the Company in relation to the Programme will be carried out in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase shares granted by its shareholders, the Market Abuse Regulation 596/2014 and Chapter 12 of the Financial Conduct Authority's Listing Rules.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
POSWGUCGBUPBGMU
UK 100

Latest directors dealings