Share Repurchase Programme

RNS Number : 4336R

abrdn PLC

06 July 2022

 

abrdn plc ("the Company")

Share Repurchase Programme 

The Company today announces that it will commence a return of £300m through the repurchase of the Company's ordinary shares, with a first phase of up to £150m ("the Programme") being undertaken by Goldman Sachs International ("Goldman Sachs")  under the terms set out below. 

On 6 July 2022, the Company entered into an irrevocable agreement with Goldman Sachs International ("Goldman Sachs") in relation to the purchase by Goldman Sachs, for the Company, of ordinary shares in the Company's share capital (the "Shares") for an aggregate consideration of no greater than 150m. Goldman Sachs will make trading decisions in relation to the buyback pursuant to the Programme independently of, and uninfluenced by, the Company with regard to the timing of the purchases.  The purchase of Shares will take place during the period commencing on 6 July 2022 and ending no later than 30 December 2022.

Any purchase of Shares made in relation to the Programme will be executed in accordance with the UK Listing Rules and the Company's authority to make market purchases of Shares and carried out on the London Stock Exchange and/or Cboe Europe Limited. The Company will announce any market repurchase of Shares no later than 7.30 a.m. on the exchange trading day following the calendar day on which the repurchase occurred. The purpose of the Programme is to return excess capital to shareholders. All Shares purchased will be cancelled.

6 July 2022

Enquiries:

Institutional Equity Investors Catherine Nash	[phone]
Media Andrea Ward	[phone]
Group Secretariat Kenneth Gilmour	+ 44 (0) 7734 974 073

LEI: OTMBS544NMO7GLCE7H90

 

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