REG - Deliveroo PLC - EBT Share Purchase Programme

DeliverooAnnouncement

27/03/2024 07:00

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RNS Number : 4219I  Deliveroo PLC  27 March 2024

27 March 2024

 

Deliveroo plc ("Deliveroo" or the "Company")

EBT Share Purchase Programme

Further to the Company's Preliminary Results Announcement on 14 March 2024,
the Company today announces that Ocorian Limited ("Ocorian" or the "Trustee"),
which administers the Company's employee benefit trust (the Roofoods Ltd
Employee Benefit Trust), ("EBT") will commence a share purchase programme of
up to £30 million to acquire Class A Ordinary Shares of 0.5p each in the
Company (the "Shares") for the purpose of mitigating dilution from share-based
compensation plans (the "EBT Share Purchase Programme"). Shares purchased
under the EBT Share Purchase Programme will be used to satisfy employee
share-based compensation awards.

Under the EBT Share Purchase Programme, the Trustee will instruct Goldman
Sachs International, as broker, to acquire the Shares for the EBT. Purchases
will be up to £30 million in value of Shares (by market value and inclusive
of stamp duty and broker costs and commissions) (the "Target Notional"). The
EBT Share Purchase Programme is expected to commence shortly and shall, unless
terminated by either Goldman Sachs International (the "Broker") or the Trustee
at an earlier date, be subject to an end date of 31 December 2024 (or, if
earlier, the date on which the Target Notional has been purchased).

Purchases will be carried out in compliance with the provisions of Chapter 12
of the Financial Conduct Authority's Listing Rules in respect of price and
volume requirements, Article 5 of the Market Abuse Regulation No.596/2014 and
Article 3 of Commission Delegated Regulation (EU) 2016/1052, which require
that: (a) the maximum price paid for such Shares shall be an amount equal to
the higher of: (i) 5% above the average of the closing price of the Shares as
derived from the Primary Exchange Daily Official List for the five business
days before the purchase is made; (ii) the price of the last independent trade
of Shares on the venue where the purchase is carried out; (iii) the highest
current independent bid for a Share as derived from the trading venue where
the purchase is carried out; and (b) purchases of such Shares will be limited
to 25% of the average daily volume of Shares for the last 20 days on the
trading venue on which the purchases are carried out.

The Trustee has absolute discretion and independence in respect of all trading
decisions it may make in respect of the purchase of Shares pursuant to the EBT
Share Purchase Programme.

 Contacts
 Investor relations
 David Hancock, VP Finance, Strategy & IR                               investors@deliveroo.co.uk (mailto:investors@deliveroo.co.uk)

 Tim Warrington, Investor Relations Director

 Rohan Chitale, Investor Relations Director
 Media relations
 Michelle Lavipour, Head of Corporate Communications, UK & Ireland      michelle.lavipour@deliveroo.co.uk (mailto:michelle.lavipour@deliveroo.co.uk)

 Brunswick Group, Rosie Oddy & Jono Astley                              deliveroo@brunswickgroup.com (mailto:Deliveroo@tulchangroup.com)

 

About Deliveroo

Deliveroo is an award-winning delivery service founded in 2013 by William Shu
and Greg Orlowski. Deliveroo works with approximately 183,000 best-loved
restaurants, grocery and retail partners, as well as around 135,000 riders to
provide the best food delivery experience in the world. Deliveroo is
headquartered in London, with offices around the globe. Deliveroo operates
across 10 markets, including Belgium, France, Hong Kong, Italy, Ireland,
Kuwait, Qatar, Singapore, United Arab Emirates and the United Kingdom. Further
information regarding Deliveroo is available on the Company's website
at https://corporate.deliveroo.co.uk/ (https://corporate.deliveroo.co.uk/) .

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