Haleon plc: Update on
off-market purchase alongside Pfizer Inc.
offering
1
October 2024: Further to its announcement on 30
September 2024, Haleon plc (the "Company" or "Haleon") (LSE/NYSE:
HLN) has agreed to make an off-market purchase of 60,526,315
ordinary shares of £0.01 each of the Company from Pfizer Inc.
("Pfizer") pursuant to the terms of the share purchase deed entered
into between Haleon and Pfizer that was previously approved by
Haleon's shareholders.
The off-market purchase is being made in
conjunction with, and subject to the completion of an offering by
Pfizer to institutional investors, the results of which have been
announced by Pfizer today. The purchase price payable by Haleon to
Pfizer for the off-market purchase is £3.80 per ordinary share and
the total consideration payable will be approximately £230
million.
The off-market purchase includes 30,161,278
ordinary shares worth approximately £114.6 million in aggregate
which will be cancelled and represent the remainder of the £500
million allocated to share buybacks in 2024. As such, Haleon today
also announces that it has ended its on-market share buyback
programme launched on 1 August 2024.
Separate to the remaining capital allocated to
buybacks in 2024, the off-market purchase includes an additional
30,365,037 ordinary shares worth approximately £115.4 million in
aggregate that will be held as treasury shares for the purposes of
satisfying Haleon's obligations under its existing employee share
plans in 2025.
On completion of the off-market purchase and
Pfizer's offering to institutional investors, Pfizer's interest in
Haleon's issued ordinary shares with voting rights is expected to
reduce from approximately 22.6% to approximately 15.0%.
Brian McNamara, Chief Executive
Officer of Haleon commented: "Our purchase
of shares from Pfizer will successfully deliver on our commitment
to return £500 million to shareholders through share buybacks this
year, and marks another milestone in Pfizer reducing its stake in
Haleon following our listing in July 2022. It's also fully
consistent with our capital allocation priorities to drive
attractive returns for shareholders, underpinned by a strong
investment grade balance sheet."
The Company will make a further
announcement upon completion of the off-market purchase.
Amanda Mellor
Company Secretary
Enquiries
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Investors
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Media
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Sonya
Ghobrial
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+44 7392 784784
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Zoë Bird
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+44 7736 746167
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Rakesh
Patel
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+44 7552 484646
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Gemma Thomas
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+44 7985 175048
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Emma White
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+44 7823 523562
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Email:
investor-relations@haleon.com
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Email:
corporate.media@haleon.com
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About Haleon
Haleon (LSE/NYSE: HLN) is a global leader in
consumer health, with a purpose to deliver better everyday health
with humanity. Haleon's product portfolio spans five major
categories - Oral Health, Pain Relief, Respiratory Health,
Digestive Health and Other, and Vitamins, Minerals and Supplements
(VMS). Its long-standing brands - such as Advil, Sensodyne,
Panadol, Voltaren, Theraflu, Otrivin, Polident, parodontax and
Centrum - are built on trusted science, innovation and deep human
understanding.
For more information please visit
www.haleon.com
Not for release, publication or distribution in
the United States, Canada, Japan, Australia or any other state or
jurisdiction in which such release, publication or distribution
would be unlawful.
