Amsterdam, 31 July 2024
Just Eat Takeaway.com announces share buyback programme of up
to €150 million
Just Eat Takeaway.com announces the start of a new share
buyback programme under which it plans to repurchase ordinary
shares in the amount of up to €150 million and for a number of
shares not exceeding the authority granted by the general meeting
(10% of the issued shares). The repurchased shares will be
cancelled to reduce the Company's issued share capital or will be
used to cover its obligations under
share-based compensation arrangements.
The buyback programme will commence
on 31 July 2024 and is expected to complete no later than 31 March
2025. The number of shares to be repurchased will be within the
authorisation of the general meeting of Just Eat Takeaway.com
granted to the Management Board[1]. The maximum number of shares to be
repurchased is approximately 6.3% of the Company's issued share
capital, based on the closing share price on 30 July 2024 of
€10.87.
The execution of the share buyback
programme will be done under the terms of an engagement letter with
a third party and performed in compliance with the safe harbour
provisions for repurchasing shares under the European Market Abuse
Regulation. Shares are bought in the market and accumulated on the
treasury share account until cancellation or settlement under the
employee incentive plans. Pursuant to the relevant statutory
provisions, cancellation may not be effected earlier than two
months after a resolution to cancel shares is adopted and publicly
announced. As the programme will be lead-managed by the third party
within pre-defined execution parameters, transactions may be
carried out during closed periods.
The Company will inform the market
of the progress made in the execution of this programme through
updates on its website (https://www.justeattakeaway.com/investors).
In accordance with normal practice to cater for possible changes in
future circumstances, the programme does not obligate the Company
to acquire any amount of shares, and it may be suspended at any
time at the Company's discretion.
Just Eat Takeaway.com
Jitse Groen, CEO
Mayte Oosterveld, CFO
Joerg Gerbig, COO
Andrew Kenny, CCO
Investors:
Joris Wilton
E: IR@justeattakeaway.com
Media:
E: press@justeattakeaway.com
For more information, please visit
our corporate website: https://justeattakeaway.com
About Just Eat Takeaway.com
Just Eat Takeaway.com (LSE: JET,
AMS: TKWY) is one of the world's leading global online food
delivery companies.
Headquartered in Amsterdam, the
Company is focused on connecting consumers and partners through its
platforms. With 731,000 connected partners, Just Eat Takeaway.com
offers consumers a wide variety of choices from restaurants to
retail.
Just Eat Takeaway.com has rapidly
grown to become a leading online food delivery marketplace with
operations in Australia, Austria, Belgium, Bulgaria, Canada,
Denmark, France, Germany, Ireland, Israel, Italy, Luxembourg,
Poland, Slovakia, Spain, Switzerland, the Netherlands, the United
Kingdom and the United States.
Most recent information is available
on our corporate website and follow us on
LinkedIn and
X.
Disclaimer
Statements included in this press
release that are not historical facts (including any statements
concerning investment objectives, other plans and objectives of
management for future operations or economic performance, or
assumptions or forecasts related thereto) are, or may be deemed to
be, forward-looking statements, including "forward-looking
statements". These forward-looking statements may be identified by
the use of forward-looking terminology, including the terms
"anticipates", "expects", "intends", "may", or "will" or, in each
case, their negative or other variations or comparable terminology,
or, by discussions of strategy, plans, objectives, goals, future
events or intentions. Forward-looking statements may and often do
differ materially from actual results. Any forward-looking
statements reflect the Company's current view with respect to
future events and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to the
Company's business, results of operations, financial position,
liquidity, prospects, growth or strategies. Past performance is no
guide to future performance and persons needing advice should
consult an independent financial adviser. Forward-looking
statements reflect knowledge and information available at, and
speak only as of, the date they are made, and the Company expressly
disclaims any obligation or undertaking to update, review or revise
any forward-looking statement contained in this press release.
Readers are cautioned not to place undue reliance on such
forward-looking statements.