Reckitt Benckiser Group PLC Share Repurchase Programme (1056N)
21 October 2016 - 2:46AM
UK Regulatory
TIDMRB.
RNS Number : 1056N
Reckitt Benckiser Group PLC
20 October 2016
20th October 2016
For immediate release
Reckitt Benckiser Group plc
Share Repurchase Programme
On 30 December 2015 Reckitt Benckiser Group plc ("RB" or the
"Company") announced the commencement of the 2016 share repurchase
programme of the Company's ordinary shares of ten pence each (the
"Ordinary Shares") for up to a maximum consideration of GBP800m
(the "Programme").
In continuation of the Programme, RB today announces that it has
entered into an irrevocable, non-discretionary arrangement with
Morgan Stanley & Co. International PLC ("Morgan Stanley") to
enable the purchase, within certain pre-set parameters, of up to a
maximum of 5,000,000 Ordinary Shares during the period running from
21 October 2016 and expected to end by 9 December 2016 but ending
no later than 14 December 2016. Morgan Stanley will make its
trading decisions in relation to the purchase of the Company's
securities independently of, and uninfluenced by, the Company.
Any purchase of Ordinary Shares done in relation to this
announcement pursuant to the Programme will be carried out on the
London Stock Exchange and executed in accordance with the Listing
Rules and RB's general authority to make market purchases of
Shares. RB will announce any market repurchase of Ordinary Shares
no later than 7.30 a.m. on the business day following the calendar
day on which the repurchase occurred. Ordinary Shares purchased
under the Programme will be held in treasury.
Morgan Stanley may undertake transactions in Ordinary Shares
(which may include sales and hedging activities, in addition to
purchases) in order to manage its market exposure under the Morgan
Stanley Programme. Morgan Stanley will make any disclosures it is
legally required to make in relation to such transactions.
Contact:
Christine Logan
Company Secretary
Reckitt Benckiser Group plc
01753 217800
This announcement does not constitute, or form part of, an offer
or any solicitation of an offer for securities in any
jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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