Glanbia increases and extends EUR50m share buyback

Glanbia PLC

04 May 2023

 

Glanbia increases and extends existing €50m share buy-back of up to €50m to €100m

4 May 2023, Glanbia plc, the better nutrition company, (the "Company" or the "Group") announces that it has increased and extended its existing share buy-back programme of up to €50 million to up to €100m in total value in Glanbia plc ordinary shares ("Shares"). The purpose of the increased and extended buy-back programme is to further reduce the share capital of the Company (any Shares repurchased for this purpose will be cancelled).

Details of the programme 

The Company has entered into an agreement with J&E Davy ("Davy") to act as principal in relation to the purchase of the Company's Shares, within certain pre-set parameters.

The increased and extended programme will run from 4 May 2023, through to 30 September 2023, unless otherwise terminated in accordance with the Company's agreement with Davy and prevailing authority.

Under the terms of the agreement, Davy will make purchases of the Shares under the buy-back programme independently of, and uninfluenced by, the Company. Purchases may continue during any closed period to which the Company is subject. The Company confirms that it currently has no unpublished inside information.

The increased and extended share buy-back programme will be conducted within the limitations of the Company's general authority to repurchase Shares, and conditional upon the passing of Resolution 10 proposed to be approved by the Company's shareholders at the 2023 Annual General Meeting to be held today, 4 May 2023, up to a maximum of 10% of the issued share capital of the Company as at 3 March 2023, being 27,228,736 Shares.

The programme will be conducted in accordance with Chapter 9 of the Euronext Dublin Listing Rules and the relevant provisions of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the United Kingdom ("UK"), from time to time, including, where relevant, pursuant to the UK's Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as the rules of the Central Bank of Ireland.

ENDS

For further information contact:

Glanbia plc [phone] 

Mark Garvey, Group Finance Director

Liam Hennigan, Group Secretary & Head of Investor Relations: [phone]

Martha Kavanagh, Head of Corporate Communications: [phone] 

Davy

Ivan Murphy/Ronan Veale [phone]

 

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