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British Land Co PLC (BLND)

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Wednesday 15 May, 2019

British Land Co PLC

Engagement of Broker to Execute Buyback Programme

RNS Number : 1728Z
British Land Co PLC
15 May 2019
 

British Land announce engagement of broker to execute £125 million share buyback programme
15 May 2019

 

The British Land Company PLC ("the Company") announces that it has engaged UBS ("the Broker") in relation to the programme, announced earlier today on 15 May 2019, to repurchase the Company's ordinary shares up to the value of £125 million. The programme will be executed between 16 May 2019 and 24 September 2019. The purpose of the programme is to reduce the capital of the Company.

The Broker will purchase the Company's ordinary shares as principal and sell them on to the Company in accordance with the terms of its engagement. The Company intends to cancel the shares it purchases through the programme.

Any share purchases will be made in accordance with certain pre-set parameters set out in the terms of the Broker's engagement, the general authority of the Company to repurchase shares granted by shareholders at the Company's annual general meeting held on 17 July 2018 (which permits the purchase of no more than 98,292,608 of the Company's ordinary shares, taking into account 3,292,329 shares already repurchased using this authority under the buyback programme which concluded on 22 March 2019), the EU Market Abuse Regulations (596/2015), the Commission Delegated Regulation (2016/1052) and Chapter 12 of the Financial Conduct Authority's Listing Rules.

 

Enquiries:

Investor Relations  

David Walker, British Land                                              020 7467 3418

 


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