REG - Hikma Pharmaceutical - Share Buyback Programme

Hikma PharmaceuticalsAnnouncement

25/02/2022 07:16

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RNS Number : 7817C  Hikma Pharmaceuticals Plc  25 February 2022

Hikma Pharmaceuticals PLC

Share Buyback Programme

 

London, 25 February 2022 - As previously announced on 24 February 2022 in its
preliminary audited results for the year ended 31 December 2021, Hikma
Pharmaceuticals PLC ("Hikma") will launch a buyback programme of up to $300
million to be executed during 2022 (the "Buyback Programme").

 

Hikma announces today that it has instructed Citigroup Global Markets Limited
("Citi") to purchase Hikma's ordinary shares of 10 pence each ("Ordinary
Shares") for an aggregate purchase price of up to $150 million, pursuant to
the Buyback Programme (the "Initial Tranche").  Citi will act as riskless
principal for the simultaneous on-sale of such shares to Hikma and will make
its trading decisions concerning the timing of the purchases of Ordinary
Shares independently of Hikma.  Purchases of the Ordinary Shares under the
Initial Tranche will commence on 25 February 2022 and end no later than 25
June 2022 and will be carried out on the London Stock Exchange and/or on BATS
and/or on Chi-X trading venues.

 

Hikma expects to announce a second tranche to complete the Buyback Programme
in due course.

 

The purpose of the Buyback Programme is to reduce the share capital of
Hikma.  To the extent permitted by law, all Ordinary Shares purchased under
the Buyback Programme will be cancelled.

 

Any acquisitions under the Initial Tranche will be carried out within certain
pre-set parameters, and in accordance with Hikma's general authority to
repurchase Ordinary Shares as granted at Hikma's Annual General Meeting on 23
April 2021, pursuant to which the maximum number of Ordinary Shares to be
bought back by Hikma may not exceed 24,333,210 Ordinary Shares.

 

Any acquisitions will be made in accordance with the EU Market Abuse
Regulation (596/2014) as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules.
 The market will be notified in accordance with those rules if and when
purchases are made.

 

 

 Enquiries

 

 Susan Ringdal                                                              +44 (0)20 7399 2760 / +44 (0)7776 477050

 EVP, Strategic Planning and Global Affairs
 Guy Featherstone                                                           +44 (0)20 3892 4389 / +44 (0)7795 896738

 Senior Investor Relations
 Manager
 Layan Kalisse                                                              +44 (0)20 7399 2788 / +44 (0)7970 709912

 Investor Relations Analyst

 

About Hikma

 

Hikma helps put better health within reach every day for millions of people
around the world. For more than 40 years, we've been creating high-quality
medicines and making them accessible to the people who need them.
Headquartered in the UK, we are a global company with a local presence across
the United States (US), the Middle East and North Africa (MENA) and Europe,
and we use our unique insight and expertise to transform cutting-edge science
into innovative solutions that transform people's lives. We're committed to
our customers, and the people they care for, and by thinking creatively and
acting practically, we provide them with a broad range of branded and
non-branded generic medicines. Together, our 8,700 colleagues are helping to
shape a healthier world that enriches all our communities. We are a leading
licensing partner, and through our venture capital arm, are helping bring
innovative health technologies to people around the world. For more
information, please visit: www.hikma.com (http://www.hikma.com) .

 

(LEI:549300BNS685UXH4JI75)

 

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