Share repurchase programme

RNS Number : 1600H

Inchcape PLC

02 August 2021

 

Inchcape plc - Share repurchase programme

Inchcape plc (the Company) announces that, as set out in its interim results to 30 June 2021 published on 29 July 2021, it is commencing a share buyback programme (the Programme) to purchase shares with a value of up to £100 million  ( inclusive of applicable taxes, fees and costs)   during the period starting on 2 August 2021 and ending no later than 18 February 2022,  the sole purpose of which is to reduce the capital of the Company . 

The Company has entered into an agreement with EXANE SA (EXANE BNP Paribas) under which it has issued an instruction to EXANE BNP Paribas to manage the Programme. EXANE BNP Paribas will carry out its instruction through the acquisition of ordinary shares in the Company for subsequent repurchase by the Company. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the provisions of the retained version of the Market Abuse Regulation 596/2014/EU as applicable in the United Kingdom pursuant to section 3 of the European Union (Withdrawal) Act 2018 and will be conducted in accordance with such general authority conferred by the Company's shareholders to repurchase the shares in place from time to time (at the Annual General Meeting in 2021, shareholders gave the Company authority to purchase a maximum of 39,327,439 ordinary shares).

Ends

Inchcape plc - Investor Relations
Raghav Gupta-Chaudhary [phone],  [e-mail]

Instinctif
Mark Garraway [phone],  [e-mail]

About Inchcape
Inchcape is the leading independent multi-brand Automotive Distributor, operating in 36 markets with a portfolio of the world's leading automotive brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 15,000 people.  www.inchcape.com

 

END

 

 

POSUPUGURUPGGBG