REG - GSK PLC - GSK plc commences share buyback programme

GSKAnnouncement

24/02/2025 07:00

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RNS Number : 1770Y  GSK PLC  24 February 2025

Issued: 24 February 2025, London UK

 

GSK plc commences share buyback programme

 

 

GSK plc ("GSK") today announces the commencement of its share buyback
programme (the "Programme"), as announced in its 2024 full year results
announcement published on 5 February 2025 (the "FY24 Results Date"). The
Programme will return an additional £2 billion of capital to shareholders and
is expected to be completed within 18 months of the FY24 Results Date. The
Programme will commence today with an initial tranche of up to £0.7
billion.

GSK has entered into a non-discretionary agreement with Citigroup Global
Markets Limited ("Citi"), enabling GSK to buy back ordinary shares of 31¼
pence each in GSK ("Ordinary Shares") with an aggregate value of up to £0.7
billion (the "First Tranche"). Purchases of Ordinary Shares under the First
Tranche are expected to commence on 24 February 2025 and to be completed by 13
June 2025.

The purpose of the Programme is to return excess capital to shareholders and
reduce the share capital of the company, and it is expected that the
implementation of the Programme will enhance earnings per share. Ordinary
Shares purchased under the First Tranche will be held as Treasury shares.

Citi will make trading decisions in relation to the First Tranche
independently of GSK with regard to the timing of purchases. Any purchase of
Ordinary Shares by Citi contemplated by this announcement will be carried out
on the London Stock Exchange and/or Cboe Europe Limited through the BXE and
CXE order books. Any purchases of Ordinary Shares by GSK from Citi under the
First Tranche will be carried out on the London Stock Exchange.

The First Tranche will be effected within certain pre-set parameters and in
accordance with GSK's general authority to repurchase shares and will be
conducted within the parameters prescribed by the Market Abuse Regulation
596/2014, the Commission Delegated Regulation (EU) 2016/1052 (both as
incorporated into UK domestic law by the European Union (Withdrawal) Act 2018)
as well as applicable laws and the regulations of the UK Financial Conduct
Authority (including Chapter 9 of the Listing Rules).

The First Tranche will occur within the limitations of GSK's existing general
authority to repurchase up to 411,703,340 Ordinary Shares granted at its 2024
Annual General Meeting.

No repurchases will be made in the United States of America or in respect of
GSK's American Depositary Receipts.

About GSK

GSK is a global biopharma company with a purpose to unite science, technology,
and talent to get ahead of disease together. Find out more at gsk.com.

 

 GSK enquiries
 Media:               Tim Foley                  +44 (0) 20 8047 5502  (London)
                      Kathleen Quinn             +1 202 603 5003       (Washington DC)

 Investor Relations:  Annabel Brownrigg-Gleeson  +44 (0) 7901 101944   (London)
                      James Dodwell              +44 (0) 20 8047 2406  (London)
                      Mick Readey                +44 (0) 7990 339653   (London)
                      Camilla Campbell           +44 (0) 7803 050238   (London)
                      Steph Mountifield          +44 (0) 7796 707505   (London)
                      Jeff McLaughlin            +1 215 751 7002       (Philadelphia)
                      Frannie DeFranco           +1 215 751 4855       (Philadelphia)

 

Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made
by GSK, including those made in this announcement, are subject to risks and
uncertainties that may cause actual results to differ materially from those
projected. Such factors include, but are not limited to, those described under
Item 3.D "Risk factors" in GSK's Annual Report on Form 20-F for 2023, and
GSK's Q4 Results for 2024.

 

Registered in England & Wales:

No. 3888792

 

Registered Office:

79 New Oxford Street

London

WC1A 1DG

 

 

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