Diageo PLC Diageo plc share repurchase programme (4406X)
10 August 2018 - 4:07PM
UK Regulatory
TIDMDGE
RNS Number : 4406X
Diageo PLC
10 August 2018
10 August 2018
Diageo plc share repurchase programme
On 26 July 2018, the Board of Diageo plc approved a share
buyback programme to return up to GBP2.0 billion to shareholders
during the financial year ending 30 June 2019 ("the F19
Programme").
Diageo today announces that it has entered into a
non-discretionary agreement with Citigroup Global Markets Limited
("Citi") to execute the first tranche of the F19 Programme to
enable the company to buy back shares. This agreement will commence
10 August 2018 and is expected to end no later than 31 January
2019. This initial tranche will be for a value of up to GBP1.4
billion with further tranche(s) to be announced during the
financial year ending 30 June 2019.
Citi will make its trading decisions in relation to the
company's securities independently of, and uninfluenced by, the
company. Any purchase of shares by Diageo contemplated by this
announcement will be carried out on the London Stock Exchange or
another recognised investment exchange.
The purpose of the buyback programme is to reduce the share
capital of Diageo plc. All shares purchased will be cancelled.
The buybacks will be effected within certain pre-set parameters
and in accordance with Diageo's general authority to repurchase
shares, and will be conducted within the parameters prescribed by
the Market Abuse Regulation 596/2014, the Commission Delegated
Regulation (EU) 2016/1052 and, in the case of Diageo plc, Chapter
12 of the Listing Rules.
The F19 Programme of up to GBP2.0 billion will fall within the
maximum number of shares that may be repurchased pursuant to
Diageo's existing general authority from shareholders to repurchase
shares of 251,773,000 shares granted at its 2017 annual general
meeting. A renewed general authority to repurchase shares up to a
maximum of 246,118,306 shares is being sought at Diageo's
forthcoming annual general meeting on 20 September 2018.
ENDS
For further information
Media relations: Bianca Agius +44 (0) 208 978 1450
press@diageo.com
Investor relations: Andy Ryan +44 (0) 208 978 6504
Investor.relations@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown
Royal, J B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and
Guinness.
Diageo is a global company, and our products are sold in more
than 180 countries around the world. The company is listed on both
the London Stock Exchange (DGE) and the New York Stock Exchange
(DEO). For more information about Diageo, our people, our brands,
and performance, visit us at www.diageo.com. Visit Diageo's global
responsible drinking resource, www.DRINKiQ.com for information,
initiatives, and ways to share best practice.
Celebrating life, every day, everywhere.
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END
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