Diageo PLC Diageo commences new share buy-back programme (1639Q)
February 16 2023 - 5:41AM
UK Regulatory
TIDMDGE
RNS Number : 1639Q
Diageo PLC
16 February 2023
Diageo commences new share buy-back programme
16 February 2023: Diageo plc (Diageo) today announces the
commencement of its new share buy-back programme, as announced in
Diageo's interim results for the six months ended 31 December 2022.
This share buy-back programme will return up to an additional
GBP0.5 billion of capital to shareholders and is to be completed
before the end of fiscal 23.
Diageo is announcing today that it has entered into a
non-discretionary agreement with Citigroup Global Markets Limited
to enable the company to buy-back shares with an aggregate value of
up to GBP0.5 billion (net of any fees payable to or by Citigroup
Global Markets Limited under the terms of the agreement). This
agreement will commence on 16 February 2023 and will end no later
than 28 June 2023. The purpose of the new share buy-back programme
is to reduce the share capital of Diageo plc. All shares
repurchased under this agreement will be cancelled.
The launch of this new programme follows the successful
completion of Diageo's return of capital programme in which GBP4.5
billion of capital was returned to shareholders since fiscal 2020
in four phases, completed on 31 January 2020, 11 February 2022, 5
October 2022 and 1 February 2023 respectively.
Further details of the return of capital programme
Citigroup Global Markets Limited 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 buy-back programme, under which up to approximately
GBP0.5 billion of shares will be repurchased, will occur within the
limitations of Diageo's existing general authority to repurchase up
to 227,870,414 shares granted at its 2022 Annual General Meeting (
less the aggregate number of shares purchased by the Company
pursuant to the authority granted by the company's shareholders at
the 2022 Annual General Meeting as at the date of this announcement
). For the avoidance of doubt, no repurchases will be made in the
United States of America or in respect of Diageo's American
Depositary Receipts.
For further information please contact:
Investor relations:
Durga Doraisamy +44 (0) 7902 126 906
Andy Ryan +44 (0) 7803 854 842
investor.relations@diageo.com
Media relations :
Clare Cavana +44 (0) 7751 742 072
Isabel Batchelor +44 (0) 7731 988 857
press@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands across spirits and beer
categories. These brands include Johnnie Walker, Crown Royal,
J&B and Buchanan's 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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