REG - Fevertree Drinks PLC - Commencement of share buyback programme

Fevertree DrinksAnnouncement

17/02/2025 07:00

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RNS Number : 2209X  Fevertree Drinks PLC  17 February 2025

17 February 2025

Fevertree Drinks plc

("Fever-Tree" or the "Company")

 

Commencement of share buyback programme

Fever-Tree today announces the commencement of a share buyback programme
regarding the purchase of ordinary shares in the Company with a nominal value
of 0.25 pence each (the "Shares") up to a maximum consideration of £71
million (the "Programme").

Fever-Tree previously announced its intention to commence the Programme on 30
January 2025, alongside the announcement its strategic partnership with Molson
Coors for the exclusive sales, distribution and production of the Fever-Tree
brand in the US.

Fever-Tree has entered into a non-discretionary agreement with Investec Bank
plc ("Investec") to purchase Shares on its behalf and to make trading
decisions independently of the Company. The Programme will commence today, 17
February 2025, and end no later than 30 September 2025. The sole purpose of
the Programme is to reduce the share capital of Fever-Tree. As such, the
Company intends to cancel any Shares purchased.

Investec will purchase the Shares as principal and simultaneously be deemed to
execute sales to the Company of any Shares so purchased in accordance with the
terms of their engagement.

Any purchase of Shares under the Programme will be executed in accordance with
certain pre-set parameters and in accordance with the Company's existing
general authority to repurchase Shares granted by its shareholders at the
annual general meeting held on 6 June 2024 (which permits the Company to
purchase no more than 11,668,664 Shares), the Market Abuse Regulation
(596/2014) as it forms part of domestic law by virtue of section 3 of the
European Union (Withdrawal) Act 2018 (as amended) and UKLR 9.6.2 using the
average daily volume of Ordinary Shares traded in January 2025, being the
month preceding the month of this announcement. The Company may repurchase up
to 25% of this average daily volume per day during the programme.

 

For further information:

 

Fever-Tree

Investor queries

Ann Morris-Gibbons, Director of Investor Relations I ann.hyams@fever-tree.com
(mailto:ann.hyams@fever-tree.com) I +44 (0)7435 828 138

Media queries

Oliver Winters, Director of Communications I oliver.winters@fever-tree.com
(mailto:oliver.winters@fever-tree.com) I +44 (0)770 332 9024

 

Nominated Advisor and Broker - Investec Bank plc

David Flin I +44 (0)20 7597 5970

Financial Adviser & Corporate Broker - Morgan Stanley & Co.
International plc

Henry Stewart I Andrew Foster I Jessica Pauley I +44 (0)20 7425 8000

Corporate Broker - Jefferies International Limited

Ed Matthews I Richard Taylor I +44 (0)20 7029 8000

Financial PR advisers - FGS Global

Faeth Birch +44 (0)7768 943 171; Anjali Unnikrishnan +44 (0) 7826 534 233

About Fever-Tree:

Fever-Tree is the world's leading supplier of premium carbonated mixers for
alcoholic spirits by retail sales value, with distribution to over 90
countries worldwide. Based in the UK, the brand was launched in 2005 to
provide high quality mixers which could cater to the growing demand for
premium spirits, in particular gin, but also increasingly for vodka, rum and
whisky. The Company sells a range of carbonated mixers to hotels, restaurants,
bars and cafes ("On Trade") as well as selected retail outlets ("Off Trade").

 

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