Share Buy-Back

Standard Chartered PLC

31 July 2024

 

STANDARD CHARTERED PLC

31 JULY 2024

SHARE BUY-BACK

Standard Chartered PLC (the "SC") announces that, as noted in its announcement on 30 July 2024, it will commence buying-back ordinary shares of US$0.50 each (the "Ordinary Shares") for up to a maximum aggregate amount of US$1,500,000,000 (the "Buy-back"). The purpose of the Buy-back is to reduce SC's share capital.

SC has entered into a non-discretionary agreement with Goldman Sachs International ("GS") to enable the purchase of Ordinary Shares by GS, acting as principal, during the period running from 1 August 2024 until and including 30 January 2025 (subject to no regulatory objections or concerns arising), for an aggregate purchase price of up to, but no greater than, US$1,500,000,000 and the on-sale of such Ordinary Shares by GS to SC.

The maximum number of Ordinary Shares that can be purchased under the Buy-back is 228,843,817 Ordinary Shares (save that any purchases shall not exceed the amount that represents SC's available general authority to purchase Ordinary Shares as granted by its shareholders at its 2024 annual general meeting). GS will make their trading decisions in relation to the Ordinary Shares independently of SC.

Any purchases of Ordinary Shares will be carried out on the London Stock Exchange and/or Cboe Europe (through the BXE and CXE order books), and/or any other UK recognised investment exchange which may be agreed, in accordance with pre-set parameters and in accordance with (and subject to limits prescribed by) SC's general authority to repurchase Ordinary Shares as granted by its shareholders at its 2024 annual general meeting, Chapter 12 of the Financial Conduct Authority's Listing Rules, Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018), Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018), the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited and the Hong Kong Codes on Takeovers and Mergers and Share Buy-Backs. For the avoidance of doubt, no purchases of Ordinary Shares will be carried out on the Stock Exchange of Hong Kong. Ordinary Shares purchased under the Buy-back will be cancelled.      

For further information, please contact:

Manus Costello, Group Head, Investor Relations:                      [phone]

Shaun Gamble, Director, Group Media Relations:                      [phone]

 

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