Commencement of Share Buyback Programme

Sainsbury(J) PLC
26 April 2024
 

26 April 2024

 

J Sainsbury plc

(the 'Company')

 

Commencement of share buyback programme

 

Further to the announcement of 7 February 2024, J Sainsbury plc is pleased to announce the commencement of a share buyback programme of up to £200 million, to be completed by the end of this financial year, 1 March 2025.

The first tranche of the share buyback programme (the "Programme") will be for a maximum aggregate market value equivalent to £150 million which will be bought back in the form of the Company's ordinary shares. The Programme will commence on 26 April 2024 and will end on or before 1 November 2024. The sole purpose of the Programme is to reduce the Company's share capital. The Company intends to cancel the repurchased ordinary shares.

The Company has entered into non-discretionary instructions with UBS AG London Branch to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company.

The Programme will take place within the limitations of the authority granted to the Board of the Company by its annual general meeting, held on 6 July 2023, pursuant to which the maximum number of shares to be bought back by the Company is 236,462,600.

 

Enquiries

 

 Investor Relations

 

 Media

 James Collins

 Rebecca Reilly

 +44 (0) 7801 813 074

 +44 (0) 20 7695 7295

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings