REG - Haleon PLC - Commencement of Share Buyback Programme

HALEONAnnouncement

28/03/2025 07:00

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RNS Number : 5783C  Haleon PLC  28 March 2025

 

Haleon plc: Commencement of Share Buyback Programme

 

28 March 2025: Haleon plc (the "Company", or "Haleon") today announces that it
is commencing a share buyback programme to purchase ordinary shares of £0.01
each in the Company (the "Shares") up to an aggregate consideration of £330
million (the "Buyback Programme"). This represents the remainder of the £500
million allocated to share buybacks in 2025 announced on 27 February 2025,
following completion of the Company's c. £170m off-market purchase of Shares
from Pfizer Inc. announced on 18 March 2025. The Buyback Programme is in line
with the Company's capital allocation priorities including delivering
attractive shareholder returns. The Buyback Programme is expected to enhance
the Company's earnings per share.

 

The first tranche of the Buyback Programme (the "First Tranche") will be for
an aggregate consideration of up to £200 million. The First Tranche will
commence immediately and end by no later than 26 June 2025. All Shares
purchased by the Company under the First Tranche will be cancelled and the
purpose is to reduce the Company's share capital.

In connection with the First Tranche, the Company has entered into an
irrevocable agreement with Goldman Sachs International ("Goldman Sachs"), for
the purchase by Goldman Sachs of the Shares. Under the terms of the agreement,
any purchase of Shares by Goldman Sachs will be carried out on the London
Stock Exchange and Goldman Sachs will make trading decisions in relation to
the First Tranche independently of Haleon with regard to the timing of the
purchase, including during any closed period.

Any further tranches of the Buyback Programme will be announced in due course.

 

Notes

The maximum number of Shares that may be purchased as part of the First
Tranche under the Company's existing authority obtained at its Annual General
Meeting held on 8 May 2024 (the "2024 Authority") is 789,903,934, being the
amount of the 2024 Authority not yet utilised as at the date of this
announcement. The Company will be 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").

 

Any purchases of Shares under the First Tranche contemplated by this
announcement will be effected within certain pre-set parameters and will be
subject to the terms of the arrangement with Goldman Sachs. The Buyback
Programme will operate in accordance with (i) the 2024 Authority and the 2025
Authority (subject to shareholder approval); (ii) the assimilated UK Market
Abuse Regulation No. 596/2014 and assimilated Commission Delegated Regulation
(EU) 2016/1052 (in each case as they form part of law of the United Kingdom by
virtue of the European Union (Withdrawal) Act 2018) (as amended) and (iii)
Chapter 9 of the UK Financial Conduct Authority's UK Listing Rules.

 

Amanda Mellor

Company Secretary

 

 

Enquiries

 

 Investors                                                                         Media

 Jo Russell                               +44 7787 392441                          Zoë Bird                              +44 7736 746167
 Rakesh Patel                             +44 7552 484646                          Victoria Durman                       +44 7894 505730
 Emma White                               +44 7823 523562

 Email: investor-relations@haleon.com (mailto:investor-relations@haleon.com)       Email: corporate.media@haleon.com (mailto:corporate.media@haleon.com)

 

About Haleon

Haleon (LSE/NYSE: HLN) is a global leader in consumer health, with a purpose
to deliver better everyday health with humanity. Haleon's product portfolio
spans five major categories - Oral Health, Pain Relief, Respiratory Health,
Digestive Health and Other, and Vitamins, Minerals and Supplements (VMS). Its
long-standing brands - such as Advil, Sensodyne, Panadol, Voltaren, Theraflu,
Otrivin, Polident, parodontax and Centrum - are built on trusted science,
innovation and deep human understanding.

 

For more information please visit www.haleon.com (http://www.haleon.com)

 

 

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