REG - Burberry Group PLC - Transaction in Own Shares

BurberryAnnouncement

03/12/2021 18:20

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RNS Number : 5890U  Burberry Group PLC  03 December 2021

BURBERRY GROUP PLC

BURBERRY GROUP PLC - SHARE REPURCHASE PROGRAMME

Burberry Group plc ("Burberry" or the "Company") announces that it will
commence a share repurchase programme up to a maximum consideration of £150m
as announced on 11 November 2021 (the "Programme").

 

The Programme is subject to remaining within the authority granted at the
Annual General Meeting on 14 July 2021 (the "AGM")  (the AGM authority is for
a maximum of 40,486,000 shares) and will take place during the period starting
on 6 December 2021 and ending no later than 30 March 2022 (the "Engagement
Period").  The Company has entered into an agreement with J.P. Morgan
Securities plc ("JPMS plc") under which it has issued an irrevocable
instruction to JPMS plc to manage the share buyback programme.

 

JPMS plc will carry out the instruction through the acquisition of ordinary
shares in the Company for subsequent repurchase by the Company. This
arrangement is in accordance with Chapter 12 of the FCA Listing Rules and the
Company's general authority to repurchase shares.  Burberry 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. To the extent
permitted by law, ordinary shares purchased under the Programme will be held
in treasury and used to meet obligations arising from employee share plans.

 

JPMS plc may undertake transactions in shares (which may include sales and
hedging activities, in addition to purchases which may take place on any
available trading venue or on an over the counter basis) during the Engagement
Period in order to manage its market exposure under the Programme. Disclosure
of such transactions will not be made by JPMS plc as a result of or as part of
the Programme, but JPMS plc will continue to make any disclosures it is
otherwise legally required to make.

 

Enquiries

 

 

 Investors and analysts
 Julian Easthope  VP, Investor Relations  020 3367 4458

                                          Julian.Easthope@burberry.com

 

 Media
 Andrew Roberts  VP, Corporate Relations  020 3367 3764

                                          Andrew.Roberts@burberry.com (mailto:Andrew.Roberts@burberry.com)

 

 

This announcement does not constitute an invitation to underwrite, subscribe
for or otherwise acquire or dispose of any Burberry Group plc shares, in the
UK, or in the US, or under the US Securities Act 1933 or in any other
jurisdiction.

Burberry is listed on the London Stock Exchange (BRBY.L) and is a constituent
of the FTSE 100 index. ADR symbol OTC:BURBY.

BURBERRY, the Equestrian Knight Device, the Burberry Check and the Thomas
Burberry Monogram and Print are trademarks belonging to Burberry.

 

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