Share Repurchase Programme - Replacement

RNS Number : 7958A

Standard Life Aberdeen plc

01 October 2020

 

The following amendments have been made to the 'Extension of Share Repurchase Programme' announcement released on 1 October 2020 at 08.00 under RNS No 6914A.

The Company has agreed with JPMS plc to extend and continue the Programme from 1 October 2020 until 28 February 2021.

As such, the aggregate consideration to be purchased by JPMS plc under the extension of the Programme shall be no greater than £400m less any amount of Shares previously purchased during the period from 10 February 2020 to 30 September 2020, such that the overall aggregate consideration to be purchased between 10 February 2020 and 28 February 2021 under the Programme

All other details remain unchanged.

The full amended text is shown below.

Standard Life Aberdeen plc ("the Company")

Extension of Share Repurchase Programme (the "Programme")

On 7 February 2020 the Company announced that it had entered into a non-discretionary instruction with J.P. Morgan Securities plc ("JPMS plc ") in relation to the purchase by JPMS plc, acting as riskless principal, of ordinary shares in the Company's share capital (the "Shares") for an aggregate consideration of no greater than 400m, to take place during the period commencing on 10 February 2020 and ending no later than 30 September 2020.

The Programme has, at 30 September 2020, resulted in the purchase of Shares for an aggregate consideration of approximately £279m. 

Consequently, the Company today announces that it has agreed with JPMS plc to extend and continue the Programme from 1 October 2020 until 28 February 2021, under similar non-discretionary terms as instructed in relation to the original Programme. As such, the aggregate consideration to be purchased by JPMS plc under the extension of the Programme shall be no greater than £400m less any amount of Shares previously purchased during the period from 10 February 2020 to 30 September 2020, such that the overall aggregate consideration to be purchased between 10 February 2020 and 28 February 2021 under the Programme and the extension to the Programme shall be no greater than £400m.

Any purchase of Shares done in relation to this announcement will be carried out on the London Stock Exchange and executed in accordance with the Listing Rules and the Company's authority to make market purchases of Shares, as granted at the Company's 2020 annual general meeting on 14 May 2020 (which was granted on the similar terms as the previous authority granted by shareholders at its 2019 annual general meeting). The Company will announce any market repurchase of Shares no later than 7.30 am on the business day following the calendar day on which the repurchase occurred. The purpose of the Programme is to reduce the share capital of the Company. All Shares purchased will be cancelled.

The total number of voting rights in the Company as at 30 September 2020 is 2,225,782,374.

1 October 2020

Enquiries:

Institutional Equity Investors Catherine Nash Neil Longair	[phone] [phone] [phone]* [phone]
Media James Thorneley	[phone] [phone]
Group Secretariat Paul McKenna	[phone]*

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LEI: OTMBS544NMO7GLCE7H90

 

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