Diageo PLC Next tranche of Diageo's capital return programme (6631T)
November 26 2021 - 2:00AM
UK Regulatory
TIDMDGE
RNS Number : 6631T
Diageo PLC
26 November 2021
Diageo announces the next tranche of its return of capital
programme
Diageo plc (Diageo) today announces that it is commencing the
next tranche of its previously announced return of capital (ROC)
programme of up to GBP4.5 billion to shareholders by 30 June
2024.
Under the first phase of the ROC programme, which was completed
on 31 January 2020, Diageo repurchased shares to a value of GBP1.25
billion. Diageo initiated the second phase of its ROC programme of
up to GBP1.0 billion on 12 May 2021, to be completed by the end of
fiscal 22. Under the first tranche of the second phase, which
was
completed on 12 November 2021, Diageo repurchased shares to a value of GBP0.45 billion.
Diageo is announcing today that it has entered into a
non-discretionary agreement with Goldman Sachs International (GSI)
to enable the company to buy back shares with a value of up to
GBP0.55 billion. This agreement will commence on 26 November 2021
and will end no later than 4 March 2022. The purpose of the
repurchases is to reduce the share capital of Diageo and all shares
repurchased under this agreement will be cancelled.
Further execution phases of the ROC programme, utilising the
most appropriate mechanic of either share buybacks or special
dividends depending on market conditions, will be announced in due
course.
Further details of the return of capital programme
GSI will make its trading decisions in relation to Diageo's
securities independently of and uninfluenced by Diageo. Any
repurchase of shares by Diageo contemplated by this announcement
will be carried out on the London Stock Exchange and/or other
recognised investment exchange(s).
The share buybacks will be effected within certain pre-set
parameters and in accordance with Diageo's general authority to
repurchase shares and will be conducted within the parameters
prescribed by the Market Abuse Regulation 596/2014, the Commission
Delegated Regulation (EU) 2016/1052 (both as incorporated into UK
domestic law by the European Union (Withdrawal) Act 2018) and, in
the case of Diageo, Chapter 12 of the Listing Rules.
This share buyback tranche of up to GBP0.55 billion will take
place within the limitations of Diageo's existing general authority
to repurchase up to 233,611,282 shares granted at its 2021 annual
general meeting. After taking account of the number of shares
bought back under the first tranche of the second phase of the ROC
programme, the maximum number of shares that can be bought back
under this authority under the second tranche of the second phase
of the ROC programme is 231,359,356.
For further information please contact:
Investor relations:
Durga Doraisamy +44 (0) 7902 126 906
Lucinda Baker +44 (0) 7974 375 550
Belinda Brown +44 (0) 7590 810 246
investor.relations@diageo.com
Media relations :
Jessica Rouleau +44 (0) 7925 642 561
press@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown
Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc
and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray
and Guinness.
Diageo is a global company, and our products are sold in more
than 180 countries around the world. The company is listed on both
the London Stock Exchange (DGE) and the New York Stock Exchange
(DEO). For more information about Diageo, our people, our brands,
and performance, visit us at www.diageo.com . Visit Diageo's global
responsible drinking resource, www.DRINKiQ.com for information,
initiatives, and ways to share best practice.
Celebrating life, every day, everywhere.
Diageo plc LEI: 213800ZVIELEA55JMJ32
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