Unilever PLC SHARE BUY-BACK PROGRAMME (4807F)
18 May 2017 - 7:00PM
UK Regulatory
TIDMULVR TIDM0NXM
RNS Number : 4807F
Unilever PLC
18 May 2017
SHARE BUY-BACK PROGRAMME
18/05/2017
Unilever PLC and Unilever N.V. today announce that a programme
to buy back shares with an aggregate market value equivalent to
EUR5 billion, as previously announced on 6 April 2017, will
commence on 19 May 2017.
The programme is in line with the Group's objective of targeting
a net debt to EBITDA ratio of 2.0x.
The buy-back will be conducted in both Unilever PLC and Unilever
N.V. ordinary shares. Under the terms of the programme, between
EUR1.5 billion and EUR2.5 billion will be bought back on the London
Stock Exchange in the form of Unilever PLC ordinary shares, and the
balance of the aggregate EUR5 billion will be bought back on
Euronext in Amsterdam in the form of Unilever N.V. ordinary shares
(or depositary receipts in respect of such ordinary shares).
The buy-back programme will take place within the limitations of
the authority granted to the Boards of each of Unilever PLC and
Unilever N.V. by their respective general meetings held in April
2017, pursuant to which the maximum number of shares to be bought
back by Unilever PLC is 128,345,000 and the maximum number of
shares (or depositary receipts thereof) to be bought back by
Unilever N.V. is 223,024,384.
The buy-back programme, the purpose of which is to reduce the
capital of Unilever PLC and Unilever N.V., respectively, will also
be conducted within the parameters prescribed by the Market Abuse
Regulation 596/2014, the Commission Delegated Regulation (EU)
2016/1052 and, in the case of Unilever PLC, Chapter 12 of the
Listing Rules.
The programme will commence on 19 May 2017 and will end no later
than 15 December 2017.
The Group has entered into non-discretionary instructions with
Deutsche Bank AG, London Branch and UBS AG, London Branch to
conduct the share buy-back programme on its behalf and to make
trading decisions under the programme independently of the
Group.
Media Enquires:
Media Relations UK: +44 7917 214 712
Media Relations Netherlands: +31 10 217 4844
This announcement does not constitute, or form part of, an offer
or any solicitation of an offer for securities in any
jurisdiction.
SAFE HARBOUR:
This announcement may contain forward-looking statements,
including 'forward-looking statements' within the meaning of the
United States Private Securities Litigation Reform Act of 1995.
Words such as 'will', 'aim', 'expects', 'anticipates', 'intends',
'looks', 'believes', 'vision', or the negative of these terms and
other similar expressions of future performance or results, and
their negatives, are intended to identify such forward-looking
statements. These forward-looking statements are based upon current
expectations and assumptions regarding anticipated developments and
other factors affecting the Unilever Group (the "Group"). They are
not historical facts, nor are they guarantees of future
performance.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by
these forward-looking statements. Among other risks and
uncertainties, the material or principal factors which could cause
actual results to differ materially are: Unilever's global brands
not meeting consumer preferences; Unilever's ability to innovate
and remain competitive; Unilever's investment choices in its
portfolio management; inability to find sustainable solutions to
support long-term growth; customer relationships; the recruitment
and retention of talented employees; disruptions in our supply
chain; the cost of raw materials and commodities; the production of
safe and high quality products; secure and reliable IT
infrastructure; successful execution of acquisitions, divestitures
and business transformation projects; economic and political risks
and natural disasters; the effect of climate change on Unilever's
business; financial risks; failure to meet high and ethical
standards; and managing regulatory, tax and legal matters. These
forward-looking statements speak only as of the date of this
announcement. Except as required by any applicable law or
regulation, the Group expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Group's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. Further details of potential risks and uncertainties
affecting the Group are described in the Group's filings with the
London Stock Exchange, Euronext Amsterdam and the US Securities and
Exchange Commission, including in the Annual Report on Form 20-F
2016 and the Unilever Annual Report and Accounts 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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