Diageo PLC
12 December 2007
12 December 2007
Diageo puts in place programme to enable the buy back of shares in forthcoming
closed period
DIAGEO plc announces that it has put in place an irrevocable, non-discretionary
programme to allow the company to buy back shares during the closed period which
precedes the interim results announcement on 14 February 2008. The buy-back
programme during the closed period will be managed by an independent third
party, which will make its trading decisions in relation to the company's
securities independently of, and uninfluenced by, the company.
Share buy backs will be effected during the period between 2 January 2008 and 14
February 2008 within pre-set parameters. The buy backs will be in accordance
with Diageo's general authority to repurchase shares and in accordance with
Chapter 12 of the Listing Rules. Consequently the maximum price per Share shall
be no more than the higher of (i) an amount equal to 105% of the average of the
middle market quotations for a Share (as derived from the London Stock Exchange
Daily Official List) for the 5 days when the London Stock Exchange is open for
dealing immediately preceding the day on which the Share is contracted to be
purchased and (ii) the higher of the price of the last independent trade and the
highest current independent bid on the London Stock Exchange official list at
the time the purchase is carried out. The shares repurchased will be cancelled
on a daily basis.
In announcing this Diageo confirms that currently it has no inside information.
Diageo will announce interim results for the six months ending 31 December 2007
on 14 February 2008.
This information is provided by RNS
The company news service from the London Stock Exchange
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