Glanbia
launches further share buy-back of up to €50m
16 December 2024, Glanbia plc, the
Better Nutrition company, (the "Company" or the "Group") announces that, from today, it
will commence a share buy-back programme of up to €50
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). This programme is being carried
out under the €50 million share buyback authority
announced by the Company on 6 November 2024.
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 16
December 2024, through to 30 June 2025, unless otherwise terminated
in accordance with the Company's agreement with Davy and prevailing
authority.
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The Company confirms that it currently has no unpublished inside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.
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 11 approved by the
Company's shareholders at the 2024 Annual General Meeting ("AGM")
on 1 May 2024 up to a maximum of 10% of the issued share capital of
the Company as at 6 March 2024, being 26,489,128 ordinary shares,
which has been reduced by 4,264,456 ordinary shares to 22,224,672
ordinary shares as a consequence of the part of the €100
million buyback announced by the Company on 28 February 2024
completed between 1 May 2024 and 26 June 2024 and 14 August 2024
and 2 December 2024. Following the expiry of
the 2024 AGM repurchase authority, the continuation of the buyback
will be conditional on the shareholder approval of a repurchase
general authority at the AGM on 30 April 2025.
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.
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, Director of
Corporate
Affairs:
+353 87 646 2006
Davy
Ivan Murphy/Ronan Veale
+353 1 679
7788
