share buy-back programme

RNS Number : 5510G

WPP PLC

02 March 2018

 

FOR IMMEDIATE RELEASE

2 March 2018

WPP plc share buy-back programme

WPP plc (the "Company"), announces that it intends to continue with a rolling programme of share buy-backs and will instruct its brokers, Merrill Lynch International, to purchase shares on its behalf.

The programme will continue on an ongoing basis under the authority granted by shareholders at the Company's AGM on 7 June 2017, at which the Company's shareholders generally authorised the Company to make market purchases of up 127,887,590 of its ordinary shares, subject to minimum and maximum price restrictions.  This authority expires at the conclusion of the Company's 2018 AGM. Since the date that this authority was granted, the Company has acquired 12,225,000 shares, all of which have been held in treasury. The aggregate number of shares acquired by the Company pursuant to the programme shall not exceed the maximum number of shares which the Company is authorised to purchase pursuant to this authority.

The purpose of the share buyback programme is to reduce the Company's share capital as part of its commitment to increasing shareholder returns and to counter any dilution. It is intended that shares purchased will be held in treasury.

The share buy-back programme will be conducted in accordance with the Company's general authority to repurchase shares, Chapter 12 of the UKLA Listing Rules and relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions.

Contact:	[phone]
Chris Wade, WPP
Marie Capes, WPP

 

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