REG - Barclays PLC - Share Buy-back programme

BarclaysAnnouncement

24/05/2022 07:16

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RNS Number : 5189M  Barclays PLC  24 May 2022

24 May 2022

Barclays PLC

Commencement of Buy-back

Barclays PLC (the "Company") announces that, as outlined in its announcement
on 23 February 2022, it will commence a share buy-back programme to purchase
ordinary shares of 25 pence each in the Company ("Ordinary Shares") for up to
a maximum consideration of £1,000m (the "Buy-back"). The Buy-back will
commence on 24 May 2022 and end no later than 30 September 2022 (subject to
regulatory approval remaining in place). The purpose of the Buy-back is to
reduce the share capital of the Company and therefore Ordinary Shares
purchased under the Buy-back will be cancelled.

The Company has entered into an irrevocable, non-discretionary agreement with
J.P. Morgan Securities plc ("JPMS") to conduct the Buy-back on its behalf and
carry out on-market purchases of Ordinary Shares, acting as riskless
principal, and to on-sell such Ordinary Shares to the Company.

JPMS will make trading decisions in relation to the Buy-back independently of
the Company.  Any purchases of Ordinary Shares under the Buy-back will be
carried out on the London Stock Exchange in accordance with certain pre-set
parameters set out in the agreement with JPMS and in accordance with (and
subject to the limits prescribed by) the Company's general authority to
repurchase Ordinary Shares granted by its shareholders at the annual general
meeting on 4 May 2022 (the "2022 Authority"), Chapter 12 of the Financial
Conduct Authority's Listing Rules, Article 5(1) of the Market Abuse Regulation
(EU) No 596/2014 (as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018, as amended), the Commission Delegated Regulation
(EU) No 2016/1052 (as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018, as amended), and applicable US federal securities
laws.

No repurchases will be made in the United States or in respect of the
Company's American Depositary Receipts.

The maximum number of Ordinary Shares that may be repurchased under the
Buy-back is 1,676,161,960, being the number of Ordinary Shares the Company is
authorised to repurchase under the 2022 Authority.

- ENDS -

For further information, please contact:

Investor Relations                           Media
Relations

Chris Manners                                 Jon Tracey

+44 (0) 20 7773 2136                     +44 (0) 20 7116 4755

About Barclays

Barclays is a British universal bank. We are diversified by business, by
different types of customer and client, and geography. Our businesses include
consumer banking and payments operations around the world, as well as a
top-tier, full service, global corporate and investment bank, all of which are
supported by our service company which provides technology, operations and
functional services across the Group. For further information about Barclays,
please visit our website home.barclays.

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