Share Buy-Back Programme during close period

RNS Number : 0632E

GlaxoSmithKline PLC

31 March 2011

 



GlaxoSmithKline plc - Continuation of Share Buy-Back Programme during close period

GlaxoSmithKline plc (the "Company") announces that it has today put in place an irrevocable, non-discretionary programme for the purchase of its Ordinary shares during the close period which precedes the 2011 first quarter results announcement, expected to be made on 27 April 2011.  The shares to be purchased on behalf of the Company are for cancellation.

The aim of the programme is to reduce the issued share capital of the Company to help enhance returns for shareholders.

The repurchases, to be made under the Company's existing share buy-back programme, will be managed during the close period by an independent third party which makes its trading decisions in relation to the Company's securities independently of, and uninfluenced by, the Company.

Any purchases pursuant to these arrangements will be effected during the period between 1 April 2011 and 27 April 2011 within certain pre-set parameters and in accordance with the Listing Rules, other applicable law and the limitations of the repurchase authority approved at the last Annual General Meeting of shareholders. 

V A Whyte

Company Secretary

31 March 2011

 

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