Sainsbury(J) PLC Commencement of Share Buyback Programme
26 April 2024 - 4:00PM
RNS Regulatory News
RNS Number : 1168M
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
|
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