Share Repurchase Programme

RNS Number : 6530E

Burberry Group PLC

20 July 2016

 

20 July 2016

Burberry Group plc

Share repurchase programme

Burberry Group plc ("Burberry" or the "Company") today announces that it will commence an initial share repurchase programme of the Company's ordinary shares of 0.05p each (the "Ordinary Shares") up to a maximum consideration of £100m (the "Programme").

Burberry has entered into a non-discretionary instruction with Morgan Stanley & Co. International Plc ("Morgan Stanley") in relation to the purchase by Morgan Stanley, acting as principal during the period commencing on 20 July 2016 and ending no later than 18 April 2017, of Ordinary Shares in the Company's share capital (the "Shares") for an aggregate purchase price of no greater than £100m and the simultaneous on-sale of such Shares by Morgan Stanley to Burberry.

Any purchase of Ordinary Shares done in relation to this announcement will be carried out on the London Stock Exchange and executed in accordance with the Listing Rules and Burberry's general authority to make market purchases of Shares. Burberry will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, Ordinary Shares purchased under the Programme will be held in treasury.

Morgan Stanley may undertake transactions in Shares (which may include sales and hedging activities, in addition to purchases) in order to manage its market exposure under the Programme. Morgan Stanley will make any disclosures it is legally required to make in relation to such transactions.

Enquiries

Investors and analysts
Carol Fairweather	Chief Financial Officer	020 3367 3524
Fay Dodds	VP, Investor Relations

Media
Venetia Hendy	Director of Corporate Relations	020 3367 4194
Nick Claydon	Brunswick	020 7404 5959
Katharine Spence	Brunswick

This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Burberry Group plc shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction.

Burberry is listed on the London Stock Exchange (BRBY.L) and is a constituent of the FTSE 100 index. ADR symbol OTC:BURBY. 

BURBERRY, the Equestrian Knight Device and the Burberry Check are trademarks belonging to Burberry which are registered and enforced worldwide.

 

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