Share Buyback Programme

RNS Number : 0216L

Hikma Pharmaceuticals Plc

11 May 2022

 

11 May 2022

For immediate release

HIKMA PHARMACEUTICALS PLC

Share Buyback Programme

London, 11 May 2022 - As previously announced on 24 February 2022 in its preliminary audited results for the year ended 31 December 2021, Hikma Pharmaceuticals PLC ("Hikma") has launched a buyback programme of up to $300 million to be executed during 2022 (the "Buyback Programme").

Hikma announced on 11 April 2022 that it had instructed Morgan Stanley & Co. International plc ("Morgan Stanley") to purchase Hikma's ordinary shares of 10 pence each ("Ordinary Shares") for an aggregate purchase price of up to $75 million, pursuant to the Buyback Programme (the "Second Tranche").  This followed the completion of the initial tranche of $150 million by Citigroup Global Markets Limited which was announced on 25 February 2022. 

Hikma announces today that it has increased the Second Tranche by $75 million, to an aggregate purchase price of up to $150 million.

 Morgan Stanley will act as riskless principal for the simultaneous on-sale of such shares to Hikma and will make its trading decisions concerning the timing of the purchases of Ordinary Shares independently of Hikma.  Purchases of the Ordinary Shares under the Second Tranche commenced on 11 April 2022 and are now expected to end no later than 19 August 2022 and will be carried out on the London Stock Exchange, Aquis Stock Exchange Limited and CBOE Europe Limited through the BXE and CXE order books . The purpose of the Buyback Programme is to reduce the share capital of Hikma.  To the extent permitted by law, all Ordinary Shares purchased under the Buyback Programme will be cancelled.

Any acquisitions under the Second Tranche will be carried out within certain pre-set parameters, and in accordance with Hikma's general authority to repurchase Ordinary Shares as granted at Hikma's Annual General Meeting on

25 April 2022.

Any acquisitions will be made in accordance with the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules.  The market will be notified in accordance with those rules if and when purchases are made.

Enquiries

Susan Ringdal EVP, Strategic Planning and Global Affairs	[phone] / [phone]
Guy Featherstone Senior Investor Relations Manager	[phone] / [phone]
Layan Kalisse Investor Relations Analyst	[phone] / [phone]

 

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