Proposed Share Buyback Programme Extension

RNS Number : 9874U

Jardine Matheson Hldgs Ltd

08 December 2021

 

JARDINE MATHESON HOLDINGS LIMITED
PROPOSED SHARE BUYBACK PROGRAMME EXTENSION

Jardine Matheson Holdings Limited (the 'Company') intends to increase the amount of its share buyback programme announced on 30th September 2021 (the 'Programme') by US$250 million to now target returning up to US$500 million to its shareholders by 30th June 2022. As of 8th December 2021 it has already acquired close to US$250 million of shares under the Programme.

The Company's ordinary shares will be repurchased by the Company, in accordance with powers under the Bermuda Companies Act and the constitution of the Company. In accordance with the Company's current practice, details of any repurchases made by the Company will be provided to the market via regulatory announcements and published on the Company's website. The purpose of the Programme is to reduce the capital of the Company. As the holding of treasury shares is not provided for in the Company's constitution, any shares which the Company repurchases will be cancelled. 

The Programme is in line with Jardine Matheson Group's previously announced capital allocation policy. The Group remains committed to return gearing nearer to historic levels over the medium term, following the simplification of the Group's holding structure earlier in the year.

Jonathan Lloyd, Jardine Matheson Limited
for and on behalf of Jardine Matheson Holdings Limited

8th December 2021

www.jardines.com

 

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