Melrose Industries PLC Share Buyback Programme (2600O)
02 Outubro 2023 - 3:00AM
UK Regulatory
TIDMMRO
RNS Number : 2600O
Melrose Industries PLC
02 October 2023
2 October 2023
MELROSE INDUSTRIES PLC (THE "COMPANY")
COMMENCEMENT OF GBP500 MILLION SHARE BUYBACK PROGRAMME
Share buyback programme
As part of its 2023 interim results announcement on 7 September
2023, the Company announced it was commencing early its share
buyback programme at the beginning of October 2023, starting with a
GBP500 million on-market buyback, to be conducted over 12 months
(the "Programme").
In accordance with the Company's general authority to make
market purchases of existing ordinary shares of 160/7 pence each in
the capital of the Company ("Ordinary Shares") as granted by its
shareholders at the Annual General Meeting held on 8 June 2023 (the
"General Authority"), the Programme will purchase no more than
202,586,150 Ordinary Shares and up to a maximum aggregate
consideration payable by the Company of GBP500 million. The
Programme will commence on 2 October 2023 and will end no later
than 1 October 2024. The continuation of the Programme beyond the
conclusion of the Company's next Annual General Meeting (or, if
earlier, the close of trading on 30 June 2024) will be subject to
the Company obtaining fresh general authority from its shareholders
at such Annual General Meeting.
It is intended that Ordinary Shares repurchased shall be either
held in treasury or cancelled, in each case as notified to the
market from time to time. Cancelling those shares will reduce the
share capital of the Company whilst holding Ordinary Shares in
treasury will give the Company the ability to cancel or re-issue
such Ordinary Shares at a later date. Any purchases of Ordinary
Shares by Melrose in relation to the Programme will be conducted in
accordance with the General Authority, any further approvals to
repurchase shares as may be granted by its shareholders from time
to time, the Market Abuse Regulation 596/2014 as it forms part of
domestic law by virtue of section 3 of the European Union
(Withdrawal) Act 2018 (as amended and supplemented), and Chapter 12
of the Listing Rules.
Melrose has entered into irrevocable, non-discretionary
instructions with Investec Bank plc ("Investec") and J.P. Morgan
Securities plc (which conducts its UK investment banking business
as JP Morgan Cazenove, "JP Morgan Cazenove") to conduct the
Programme on its behalf and to make trading decisions under the
Programme independently of Melrose. The Programme will not impact
the Company's existing Ordinary Share dividend policy.
Enquiries:
Investor Relations: +44 (0) 7974 974690
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ir@melroseplc.net
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Montfort Communications - Financial
PR: +44 (0) 20 3514 0897
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Nick Miles miles@montfort.london +44 (0) 7739 701634
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Charlotte McMullen mcmullen@montfort.london +44 (0) 7921 881 800
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Investec - Corporate Broker: +44 (0) 20 7597 5970
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Carlton Nelson
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JP Morgan Cazenove - Corporate Broker: +44 (0) 20 7986 4000
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Robert Constant
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END
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October 02, 2023 02:00 ET (06:00 GMT)
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