REG - Glanbia PLC - Glanbia launches share buy-back of up to EUR 50m

GlanbiaAnnouncement

28/02/2024 07:00

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RNS Number : 6896E  Glanbia PLC  28 February 2024

Glanbia launches share buy-back of up to €50m

 

28 February 2024, Glanbia plc, the Better Nutrition company, (the "Company" or
the "Group") announces that, from today, it will commence a share buy-back
programme of up to €50 million in total value in Glanbia plc ordinary
shares ("Shares"). The purpose of the share buy-back programme is to reduce
the share capital of the Company (any Shares repurchased for this purpose will
be cancelled). This programme is being carried out under the €100 million
share buyback authority announced by the Company today.

Details of the programme

The Company has entered into an agreement with J&E Davy ("Davy") to act as
principal in relation to the purchase of the Company's Shares, within certain
pre-set parameters.

The programme will run from 28 February 2024, through to 19 December 2024,
unless otherwise terminated in accordance with the Company's agreement with
Davy and prevailing authority.

Under the terms of the agreement, Davy will make purchases of the Shares under
the buy-back programme independently of, and uninfluenced by, the Company.
Purchases may continue during any closed period to which the Company is
subject. The Company confirms that it currently has no unpublished inside
information.

The share buy-back programme will initially be conducted within the
limitations of the Company's general authority to repurchase shares as set out
in Resolution 10 approved by the Company's shareholders at the 2023 Annual
General Meeting ("AGM") on 4 May 2023 up to a maximum of 10% of the issued
share capital of the Company as at 3 March 2023 being 27,228,736 ordinary
shares which has been reduced by 7,215,827 ordinary shares to 20,012,909
ordinary shares as a consequence of subsequently completed buybacks. This
authority will expire on the close of business on the day of the AGM of the
Company, to be held on 1 May 2024. Following the expiry of the 2023 AGM
repurchase authority, the continuation of the buyback will be conditional on
the shareholder approval of a repurchase general authority at the AGM on 1 May
2024.

The programme will be conducted in accordance with Chapter 9 of the Euronext
Dublin Listing Rules and the relevant provisions of the Market Abuse
Regulation 596/2014/EU and the Commission Delegated Regulation (EU) 2016/1052
(also as in force in the United Kingdom ("UK"), from time to time,
including, where relevant, pursuant to the UK's Market Abuse (Amendment) (EU
Exit) Regulations 2019) as well as the rules of the Central Bank of Ireland.

ENDS

For further information contact:

Glanbia
plc
+353 56 777 2200

Mark Garvey, Group Finance Director

Liam Hennigan, Group Secretary & Head of Investor
Relations:               +353 86 046 8375

Martha Kavanagh, Head of Corporate Communications:
            +353 87 646 2006

Davy

Ivan Murphy/Ronan
Veale
+353 1 679 7788

 

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