Rio Tinto share buyback programme

RNS Number : 1410Y

Rio Tinto PLC

01 March 2017

 

Rio Tinto share buyback programme

1 March 2017

Share buy-back programme  

As announced on 8 February 2017, Rio Tinto plc and Rio Tinto Limited ("Rio Tinto" or the "Company") announce that its share buy-back programme to repurchase Rio Tinto plc's ordinary shares of 10 pence each will commence today, ending not later than 31 December 2017 (the "Programme").

Rio Tinto has entered into separate non-discretionary irrevocable instructions with each of Deutsche Bank AG, London Branch and J.P. Morgan Securities plc, each acting as riskless principal, in relation to the repurchase of shares for the period from today until 28 July 2017 for an aggregate maximum consideration of up to £160 million.

The purpose of the Programme is to reduce the share capital of the Company. Accordingly, all shares repurchased will be cancelled.

Any acquisitions will be effected within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares granted by its shareholders at the annual general meeting of Rio Tinto plc on 14 April 2016 (the "2016 Authority"), Chapter 12 of the Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes. Any purchases effected following the expiry of the 2016 Authority will be conditional on a similar shareholder authority being granted at the Company's annual general meeting on 12 April 2017. 

The aggregate maximum consideration payable by the Company in respect of the repurchase of shares under the Programme up to 31 December 2017 is $500 million. The maximum number of shares that may be repurchased under the Programme is 137,431,729, being the number of shares able to be repurchased under the 2016 Authority.

Contacts:

[e-mail]

www.riotinto.com

Follow @RioTinto on Twitter

Media Relations, EMEA/Americas Illtud Harri T [phone] M [phone]	Media Relations, Australia/Asia Ben Mitchell T [phone] M [phone]
David Outhwaite T [phone] M [phone]	Bruce Tobin T [phone] M [phone]
David Luff T [phone] M [phone]	Matthew Klar T [phone] M [phone]
Investor Relations, EMEA/Americas John Smelt T [phone] M [phone]	Investor Relations, Australia/Asia Natalie Worley T [phone] M [phone]
David Ovington T [phone] M [phone]	Rachel Storrs T [phone] M [phone]
Nick Parkinson T [phone] M [phone]

 

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