Second share buyback tranche of up to £500m

RNS Number : 0434V

Imperial Brands PLC

03 April 2023

 

IMPERIAL BRANDS PLC

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

3 April 2023

Imperial Brands PLC second share buyback tranche of up to £500m

Imperial Brands PLC (the "Company") announces that it has instructed Barclays Capital Securities Limited ("Barclays") to purchase up to £500 million of the Company's shares as part of the second tranche (the "Second Tranche") of its share buyback programme of up to £1 billion, announced on 6 October 2022 (the "Programme").

Under this arrangement, Barclays will act as riskless principal and will make decisions under the Programme independently from the Company. Purchases may continue during any closed period to which the Company is subject. The purpose of the share buyback is to reduce the capital of the Company. All shares repurchased as part of this arrangement will be cancelled. Purchases of the Company's shares under the Second Tranche will commence today, 3 April 2023, and end no later than 29 September 2023.

Share purchases will take place in open market transactions and be carried out on the London Stock Exchange and/or other recognised investment exchange(s) and may be made from time to time depending on market conditions, share price, trading volume and other factors.

Any purchases of ordinary shares by the Company in relation to this announcement will be effected within certain pre-set parameters and in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase shares. The maximum number of shares that may be repurchased under the Programme is 94,200,000 shares less shares already repurchased, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2023 Annual General Meeting. The Programme will also be effected within the parameters of the UK Market Abuse Regulation and in accordance with Chapter 12 of the Financial Conduct Authority's Listing Rules. The Company confirms that it currently has no unpublished inside information.

ENDS

Contacts:  Tel:

Peter Durman  [phone]

 

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