REG - Bunzl PLC - 2025 Share Buyback Programme - Update

BunzlAnnouncement

03/03/2025 07:15

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RNS Number : 9768Y  Bunzl PLC  03 March 2025

3 March 2025

 

2025 Share Buyback Programme - Update

 

As announced in its pre-close statement dated 17 December 2024, Bunzl plc
("Bunzl" or the "Company") is executing a £200m share buyback during 2025
(the "2025 Programme").

The Company today announces that it has completed the first £50m tranche of
the 2025 Programme, launched on 2 January 2025, and has entered into an
agreement to repurchase further shares of up to £150m, to be completed no
later than 31 December 2025.

A maximum number of 25,093,195 ordinary shares may be repurchased under the
agreement, representing the remaining authority granted by shareholders at
Bunzl's annual general meeting ("AGM") on 24 April 2024. Any purchases to be
made under the 2025 Programme after the expiry of this authority will be made
subject to the authority to be requested from shareholders at Bunzl's 2025
AGM. The purpose of the 2025 Programme is to reduce the issued share capital
of the Company.

UBS AG London Branch ("UBS") has been instructed by Bunzl to manage this phase
of the 2025 Programme. UBS will carry out the instruction through the
acquisition of ordinary shares in Bunzl, acting as riskless principal, for
subsequent repurchase by Bunzl. Any purchase of ordinary shares made by UBS in
relation to the 2025 Programme will be carried out on the London Stock
Exchange or another recognised investment exchange.

This arrangement is in accordance with Chapter 9 of the UK Listing Rules and
Bunzl's general authority to repurchase ordinary shares. The share buyback
programme will be conducted within the parameters prescribed by the Market
Abuse Regulation 596/2014, the Commission Delegated Regulation (EU) 2016/1052
(both as incorporated into UK domestic law by the European Union (Withdrawal)
Act 2018 and as amended by the Market Abuse (Amendment) (EU Exit) Regulations
2019) and with regard to regulatory technical standards for the conditions
applicable to buy-back programmes and stabilisation measures. Bunzl will
announce any market repurchase of ordinary shares no later than 7.30 a.m. on
the business day following the calendar day on which the repurchase occurred.
Ordinary shares purchased under the share buyback programme will be cancelled.

UBS may undertake transactions in Bunzl's ordinary shares in order to manage
its market exposure under the share buyback programme. UBS will make any
disclosures it is legally required to make in relation to such transactions.

 

Enquiries:

 Bunzl plc                                                                        Teneo

 Frank van Zanten, Chief Executive Officer                                        Martin Robinson

 Richard Howes, Chief Financial Officer                                           Olivia Peters

 Sunita Entwisle, Head of Investor Relations                                      Tel: +44 (0)20 7353 4200

 Tel: +44 (0)20 7725 5000

 

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