REG - Assoc.British Foods - Extension of Share Repurchase Programme

Associated British FoodsAnnouncement

11/09/2024 07:00

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RNS Number : 7279D  Associated British Foods PLC  11 September 2024

11 September 2024

 

Associated British Foods plc

 

Associated British Foods plc extension of share repurchase programme

 

Further to its announcement on 5 September 2024, Associated British Foods plc
(the 'Company') announces that it has entered into a non-discretionary
arrangement (the 'Engagement') with Barclays Capital Securities Limited
('Barclays') to execute an additional £100 million share buyback as an
extension to its share buyback programme (the 'Extended Programme').

 

It is anticipated that the Extended Programme will end no later than 15
November 2024 (the 'Engagement Period').

 

Under this arrangement, Barclays will act as riskless principal and will make
decisions independently from the Company under the Engagement. Barclays will
carry out the arrangement through the acquisition of ordinary shares in the
Company for subsequent repurchase by the Company. Purchases may continue
during any closed period to which the Company is subject during the Engagement
Period.

 

The sole purpose of the share buyback is to reduce the capital of the Company.
All ordinary shares repurchased as part of this arrangement will be cancelled.

 

Share purchases will take place in open market transactions and be carried out
on the London Stock Exchange and/or other recognised investment exchange(s)
and may be made from time to time depending on market conditions, share price,
trading volume and other factors.

 

Any purchases of ordinary shares by the Company in relation to this
announcement will be effected within certain pre-set parameters and in
accordance with (and subject to the limits prescribed by) the Company's
general authority to repurchase ordinary shares granted by its shareholders at
the Company's AGM on 8 December 2023, the Market Abuse Regulation 596/2014 (as
it forms part of UK law pursuant to the European Union (Withdrawal) Act
2018) and Chapter 9.6 of the Financial Conduct Authority's UK Listing Rules.

 

Further enquiries:

 

+44 (0)20 7399 6545

Eoin Tonge, Finance Director

Chris Barrie, Corporate Affairs Director

 

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