REG - abrdn PLC - Update on Share Repurchase Programme

AberdeenAnnouncement

08/08/2023 07:15

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RNS Number : 5705I  abrdn PLC  08 August 2023

abrdn plc ("the Company")

 

 

Update on implementation of Share Repurchase Programme announced on 5 June
2023

 

 

On 5 June 2023, abrdn plc (the "Company") entered into a non-discretionary
instruction (the "Original Instruction") with J.P. Morgan Securities plc
("JPMS plc") in relation to the purchase by JPMS plc, acting as riskless
principal, of up to 300,083,639 ordinary shares in the Company's share capital
(the "Shares") for a maximum consideration of £150 million (the "Programme")
during the period commencing on 5 June 2023 and ending no later than 5
September 2023.

 

On 8 August 2023, the Company agreed with JPMS plc to extend its Original
Instruction in respect of the Programme such that (i) the maximum
consideration is increased from £150 million to £300 million; and (ii) the
engagement period is extended such that it continues up to 29 March 2024. No
other terms of the Original Instruction in respect of the Programme have been
amended.

 

Any purchase of Shares made in relation to the Programme will be executed in
accordance with the UK Listing Rules and the Company's authority to make
market purchases of Shares and will be 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 Programme is to reduce the share capital of the Company.
All Shares purchased will be cancelled.

 

The number of Shares acquired to date under the Programme is 67,768,183
million for a total consideration of £146,882,019 million.

 

8 August 2023

 

Enquiries:

 

 Institutional Equity Investors

 Catherine Nash                  +44 (0) 7798 518 657

 Media

 Duncan Young                    +44 (0) 7920 868 865

 Group Secretariat

 Julian Baddeley                 +44 (0) 7553 664 045

 

 

 LEI: 0TMBS544NMO7GLCE7H90

 

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