REG - Deliveroo PLC - Share Purchase Programme

DeliverooAnnouncement

18/03/2025 07:00

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RNS Number : 0217B  Deliveroo PLC  18 March 2025

 

18 March 2025

 

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

Share Purchase Programme

 

Further to the announcement made by Deliveroo in its FY2024 Preliminary
Results on 13 March 2025, the Company today announces that the share purchase
programme announced on 9 August 2024 to purchase up to £150 million of
Ordinary Shares of 0.5p each in the capital of the Company ("Ordinary Shares")
will be extended to purchase additional Ordinary Shares of up to £100 million
(the "Share Purchase Programme"), being a total of up to £250 million
purchased under the Share Purchase Programme.

 

It is intended that the Share Purchase Programme will be completed in the
period up to 17 March 2026 and that the Ordinary Shares purchased under the
Programme will be cancelled.

 

The maximum number of Ordinary Shares that may be repurchased under the Share
Purchase Programme under the Company's existing share buyback authority
obtained at its annual general meeting held on 23 May 2024 (the "Existing AGM
Authority") is 56,052,466 Ordinary Shares, being the amount of the authority
not yet utilised as at the date of this announcement. The Company will be
seeking to refresh the share buyback authority by seeking shareholder approval
for share buybacks of up to 10% of the Company's issued share capital at the
Company's upcoming Annual General Meeting to be held in May 2025 (the "2025
Authority").

 

The Company has entered into an agreement with Goldman Sachs International
("GSI") under which it has issued an irrevocable instruction to GSI to
undertake the Share Purchase Programme. GSI will carry out the instruction
through the acquisition of Ordinary Shares in the Company on the London Stock
Exchange and/or Cboe Europe Limited through the BXE and CXE order books,
and/or Turquoise. Shares purchased by GSI will be on-sold by GSI to the
Company, and any purchases of Shares by the Company from GSI will be carried
out on the London Stock Exchange.

 

Purchases will be carried out in compliance with the Existing AGM Authority
and 2025 Authority (once approved by shareholders), provisions of the relevant
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.

 

 

 

 

 Contacts
 Investor relations
 Rohan Chitale, Investor Relations Director    investors@deliveroo.co.uk (mailto:investors@deliveroo.co.uk)

 Tim Warrington, Investor Relations Director

 Media relations
 Joe Carberry, VP Policy & Communications      joe.carberry@deliveroo.co.uk (mailto:joe.carberry@deliveroo.co.uk)
 Brunswick Group, Rosie Oddy & Jono Astle      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 186,000 best-loved
restaurants, grocers and retail partners, as well as around 135,000 riders to
provide the best on-demand 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
(https://corporate.deliveroo.co.uk/) .

 

 

 

 

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