Share Purchase Programme

Deliveroo PLC

09 August 2024

 

9 August 2024

Deliveroo plc ("Deliveroo" or "the Company")

Share Purchase Programme

Further to the announcement made by Deliveroo in its 2024 Interim Results on 8 August 2024, the Company today announces that it will commence a share purchase programme to purchase Ordinary Shares of 0.5p each in the capital of the Company ("Ordinary Shares") of up to a maximum consideration of £150 million (the "Share Purchase Programme").

It is intended that the Share Purchase Programme will be completed in the period up to 8 August 2025 and that the Ordinary Shares purchased under the Programme will be cancelled.

The maximum number of Ordinary Shares that may be repurchased under the Share Purchase Programme is 162,666,001 Ordinary Shares, being the number of Ordinary Shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Annual General Meeting on 23 May 2024 (the "AGM Authority"). To date, no Ordinary Shares have been repurchased pursuant to the AGM Authority.

The Company has entered into an agreement with Goldman Sachs International ("GSI") under which it has issued an irrevocable instruction to GSI to undertake the Share Purchase Programme. GSI will carry out the instruction through the acquisition of Ordinary Shares in the Company on the London Stock Exchange and/or Cboe Europe Limited through the BXE and CXE order books, and/or Turquoise. Shares purchased by GSI will be on-sold by GSI to the Company, and any purchases of Shares by the Company from GSI will be carried out on the London Stock Exchange. 

Purchases will be carried out in compliance with the AGM Authority and provisions of the relevant Financial Conduct Authority's Listing Rules in respect of price and volume requirements, Article 5 of the Market Abuse Regulation No.596/2014 and Article 3 of Commission Delegated Regulation (EU) 2016/1052, which require that: (a) the maximum price paid for such Shares shall be an amount equal to the higher of: (i) 5% above the average of the closing price of the Shares as derived from the Primary Exchange Daily Official List for the five business days before the purchase is made; (ii) the price of the last independent trade of Shares on the venue where the purchase is carried out; (iii) the highest current independent bid for a Share as derived from the trading venue where the purchase is carried out; and (b) purchases of such Shares will be limited to 25% of the average daily volume of Shares for the last 20 days on the trading venue on which the purchases are carried out.

Contacts
Investor relations
David Hancock, VP Finance, Strategy & IR  Tim Warrington, Investor Relations Director Rohan Chitale, Investor Relations Director	[e-mail]
Media relations
Joe Carberry, VP Policy & Communications	[e-mail]
Brunswick Group, Rosie Oddy & Jono Astley	[e-mail]

About Deliveroo

Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. Deliveroo works with approximately 182,000 best-loved restaurants, grocery and retail partners, as well as around 140,000 riders to provide the best food delivery experience in the world. Deliveroo is headquartered in London, with offices around the globe. Deliveroo operates across 10 markets, including Belgium, France, Hong Kong, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab Emirates and the United Kingdom.

Further information regarding Deliveroo is available on the Company's website at https://corporate.deliveroo.co.uk/.

 

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