REG - Haleon PLC - Update on purchase alongside Pfizer offering

HALEONAnnouncement

01/10/2024 07:15

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RNS Number : 3613G  Haleon PLC  01 October 2024

 

Haleon plc: Update on off-market purchase alongside Pfizer Inc. offering

 

1 October 2024: Further to its announcement on 30 September 2024, Haleon plc
(the "Company" or "Haleon") (LSE/NYSE: HLN) has agreed to make an off-market
purchase of 60,526,315 ordinary shares of £0.01 each of the Company from
Pfizer Inc. ("Pfizer") pursuant to the terms of the share purchase deed
entered into between Haleon and Pfizer that was previously approved by
Haleon's shareholders.

 

The off-market purchase is being made in conjunction with, and subject to the
completion of an offering by Pfizer to institutional investors, the results of
which have been announced by Pfizer today. The purchase price payable by
Haleon to Pfizer for the off-market purchase is £3.80 per ordinary share and
the total consideration payable will be approximately £230 million.

 

The off-market purchase includes 30,161,278 ordinary shares worth
approximately £114.6 million in aggregate which will be cancelled and
represent the remainder of the £500 million allocated to share buybacks in
2024. As such, Haleon today also announces that it has ended its on-market
share buyback programme launched on 1 August 2024.

 

Separate to the remaining capital allocated to buybacks in 2024, the
off-market purchase includes an additional 30,365,037 ordinary shares worth
approximately £115.4 million in aggregate that will be held as treasury
shares for the purposes of satisfying Haleon's obligations under its existing
employee share plans in 2025.

 

On completion of the off-market purchase and Pfizer's offering to
institutional investors, Pfizer's interest in Haleon's issued ordinary shares
with voting rights is expected to reduce from approximately 22.6% to
approximately 15.0%.

Brian McNamara, Chief Executive Officer of Haleon commented: "Our purchase of
shares from Pfizer will successfully deliver on our commitment to return £500
million to shareholders through share buybacks this year, and marks another
milestone in Pfizer reducing its stake in Haleon following our listing in July
2022. It's also fully consistent with our capital allocation priorities to
drive attractive returns for shareholders, underpinned by a strong investment
grade balance sheet."

The Company will make a further announcement upon completion of the off-market
purchase.

Amanda Mellor

Company Secretary

 

 

Enquiries

 

 Investors                                    Media

 Sonya Ghobrial          +44 7392 784784      Zoë Bird            +44 7736 746167
 Rakesh Patel            +44 7552 484646      Gemma Thomas        +44 7985 175048
 Emma White              +44 7823 523562

 Email: investor-relations@haleon.com         Email: 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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