TIDMGLB

RNS Number : 8678P

Glanbia PLC

23 June 2022

Glanbia launches share buy-back of up to EUR50m

23 June 2022, Glanbia plc, the Global Nutrition Group, (the "Company" or the "Group") announces that, from today, it will commence a share buy-back programme of up to EUR50 million in total value in Glanbia plc ordinary shares ("Shares"). The purpose of the share buy-back programme is to reduce the share capital of the Company (any Shares repurchased for this purpose will be cancelled).

Details of the programme

The Company has entered into an agreement with J&E Davy ("Davy") to act as principal in relation to the purchase of the Company's Shares, within certain pre-set parameters.

The programme will run from 23 June 2022, through to 30 September 2022, unless otherwise terminated in accordance with the Company's agreement with Davy.

Under the terms of the agreement, Davy will make purchases of the Shares under the buy-back programme independently of, and uninfluenced by, the Company. Purchases may continue during any closed period to which the Company is subject. The Company confirms that it currently has no unpublished inside information.

Following the Company's AGM on 5 May 2022, Glanbia consulted with a number of its independent shareholders on share buy-backs. In general shareholders have been supportive of the Company performing share buy-backs as an additional capital allocation tool, where appropriate.

The share buy-back programme will be conducted within the limitations of the Company's general authority to repurchase shares as set out in Resolution 12 approved by the Company's shareholders at the 2022 Annual General Meeting on 5 May 2022 up to a maximum of 10% of the issued share capital of the Company as at 22 March 2022 (being 28,044,569 ordinary shares). Unless renewed, this authority will expire on the earlier of; the close of business on the date on which the next Annual General Meeting of the Company is held in the year 2023 and the date which is 15 months after which the resolution is passed.

In accordance with the waiver granted by the Irish Takeover Panel under Rule 37 of the Irish Takeover Panel Rules. The buy-back of shares may not cause the percentage of the issued share capital of the Company held by Glanbia Co-operative Society Limited and persons presumed to be acting in concert with it to exceed limits set out in Resolution 14 approved by the Company's independent shareholders at the 2022 Annual General Meeting.

The programme will be conducted in accordance with Chapter 9 of the Euronext Dublin Listing Rules and the relevant provisions of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the United Kingdom ("UK"), from time to time, including, where relevant, pursuant to the UK's Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as the rules of the Central Bank of Ireland.

The share buy-back programme may be augmented by the purchase of Shares by way of block trades in accordance with the Company's general authority to repurchase shares.

ENDS

For further information contact:

Glanbia plc +353 56 777 2200

Mark Garvey, Group Finance Director

Liam Hennigan, Group Secretary & Head of Investor Relations: +353 86 046 8375

Martha Kavanagh, Head of Corporate Communications: +353 87 646 2006

Davy

Ivan Murphy/Ronan Veale +353 1 679 7788

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June 23, 2022 02:00 ET (06:00 GMT)

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