Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
SECURITIES AND EXCHANGE
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
May 24, 2022
(Name of Registrant)
1 Churchill Place
London E14 5HP
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file
under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark whether the registrant by furnishing the
contained in this Form is also thereby furnishing the information
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.
Yes ☐ No ☒
If "Yes" is marked, indicate below the file number assigned to the
in connection with Rule 12g3-2(b):
This Report on Form 6-K is filed by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished
General Instruction B to the General Instructions to Form 6-K.
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Date: May 24, 2022
By: /s/ Garth Wright
24 May 2022
Commencement of Buy-back
Barclays PLC (the "Company") announces that, as
outlined in its announcement on 23 February 2022, it will commence
a share buy-back programme to purchase ordinary shares of 25 pence
each in the Company ("Ordinary Shares") for up to
a maximum consideration of £1,000m (the
"Buy-back"). The Buy-back will commence on 24 May
2022 and end no later than 30 September 2022 (subject to regulatory
approval remaining in place). The purpose of the Buy-back is to
reduce the share capital of the Company and therefore Ordinary
Shares purchased under the Buy-back will be cancelled.
The Company has entered into an irrevocable, non-discretionary
agreement with J.P. Morgan Securities plc ("JPMS")
to conduct the Buy-back on its behalf and carry out on-market
purchases of Ordinary Shares, acting as riskless principal, and to
on-sell such Ordinary Shares to the Company.
JPMS will make trading decisions in relation to the Buy-back
independently of the Company. Any purchases of Ordinary Shares
under the Buy-back will be carried out on the London Stock Exchange
in accordance with certain pre-set parameters set out in the
agreement with JPMS 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 annual general
meeting on 4 May 2022 (the "2022 Authority"),
Chapter 12 of the Financial Conduct Authority's Listing Rules,
Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended), the Commission Delegated
Regulation (EU) No 2016/1052 (as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended),
and applicable US federal securities laws.
No repurchases will be made in the United States or in respect of
the Company's American Depositary Receipts.
The maximum number of Ordinary Shares that may be repurchased under
the Buy-back is 1,676,161,960, being the number of Ordinary Shares
the Company is authorised to repurchase under the 2022
- ENDS -
For further information, please contact:
+44 (0) 20 7773 2136
+44 (0) 20 7116 4755
Barclays is a British universal bank. We are diversified by
business, by different types of customer and client, and geography.
Our businesses include consumer banking and payments operations
around the world, as well as a top-tier, full service, global
corporate and investment bank, all of which are supported by our
service company which provides technology, operations and
functional services across the Group. For further information about
Barclays, please visit our website home.barclays.
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