REG - abrdn PLC - Share Repurchase Programme

AberdeenAnnouncement

31/10/2022 07:00

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RNS Number : 5721E  abrdn PLC  31 October 2022

abrdn plc (the "Company")

 

 

Share Repurchase Programme

The Company is pleased to confirm the completion of the first £150m phase of
its £300m share repurchase programme which commenced on 6 July 2022.

 

The Company announces today the start of the second phase of the repurchase
programme of up to a further £150m of the Company's ordinary shares (the
"Phase 2 Programme"), which is being undertaken by J.P. Morgan Securities plc
("JPMS plc") under the terms set out below.

 

On 31 October 2022, the Company entered into a non-discretionary instruction
with JPMS plc in relation to the purchase by JPMS plc, acting as riskless
principal, of up to 115,000,000 ordinary shares in the Company's share capital
(the "Shares") for an aggregate consideration of no greater than £150m. The
purchase of Shares will take place during the period commencing on 31 October
2022 and ending no later than 31 January 2023.

 

Any purchase of Shares made in relation to the Phase 2 Programme will be
executed in accordance with the UK Listing Rules and the Company's authority
to make market purchases of Shares and carried out on the London Stock
Exchange and/or Cboe Europe (through the BXE and CXE order books). The Company
will announce any market repurchase of Shares by no later than 7.30 a.m.
(London time) on the exchange trading day following the calendar day on which
the repurchase occurred.

 

The purpose of the Phase 2 Programme is to reduce the share capital of the
Company. The Company's capital resources remain strong which enables the
Company to continue to return capital to shareholders in excess of business
needs. All Shares purchased will be cancelled.

 

 

31 October 2022

 

 

Enquiries:

 

 Institutional Equity Investors

 Catherine Nash                  +44 (0) 7798 518 657

 Media

 Andrea Ward                     +44 (0) 7876 178 696

 Group Secretariat

 Julian Baddeley                 + 44 (0) 7553 664 045

 

 

 

LEI: OTMBS544NMO7GLCE7H90

 

 

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