Non-Discretionary Share Buyback Programme

RNS Number : 5723B
SSE PLC
31 January 2020
 

Announcement of Non-Discretionary Share Buyback Programme

SSE plc (the 'Company') confirmed on 30 August 2019 that in light of the SCRIP take up of the 2018/19 dividend exceeding 20%, it intended to buy-back shares in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 18 July 2019, the EU Market Abuse Regulation and Chapter 12 of the Listing Rules. 

In line with this, the Company announced on 30 September 2019 a programme to repurchase its ordinary shares for cancellation up to the value of £150m and not exceeding 13,420,470 ordinary shares (the 'Programme'). The first half of the Programme was completed by Morgan Stanley & Co. International plc on 2 December 2019 and the second half of the Programme commenced on 3 December 2019 by Credit Suisse Securities (Europe) Limited. 

The company announces in compliance with the EU Market Abuse Regulation that it has entered into an irrevocable and non-discretionary agreement with Credit Suisse Securities (Europe) Limited to complete the £150m Programme described above.

Any share purchases under the Programme will be effected within certain pre-set parameters, and in accordance with the Company's share buyback authority granted by shareholders at the Company's Annual General Meeting on 18 July 2019 (being 103,475,152 shares), the EU Market Abuse Regulation and Chapter 12 of the UK Listing Rules. The Company confirms that it currently has no inside information.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCWPUWGGUPUGUG

Companies

SSE (SSE)
UK 100

Latest directors dealings