REG - Hikma Pharmaceutical - Share Buyback Programme

Hikma PharmaceuticalsAnnouncement

11/05/2022 07:00

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RNS Number : 0216L  Hikma Pharmaceuticals Plc  11 May 2022

 

 

11 May 2022

For immediate release

 

HIKMA PHARMACEUTICALS PLC

Share Buyback Programme

 

London, 11 May 2022 - As previously announced on 24 February 2022 in its
preliminary audited results for the year ended 31 December 2021, Hikma
Pharmaceuticals PLC ("Hikma") has launched a buyback programme of up to $300
million to be executed during 2022 (the "Buyback Programme").

 

Hikma announced on 11 April 2022 that it had instructed Morgan Stanley &
Co. International plc ("Morgan Stanley") to purchase Hikma's ordinary shares
of 10 pence each ("Ordinary Shares") for an aggregate purchase price of up to
$75 million, pursuant to the Buyback Programme (the "Second Tranche").  This
followed the completion of the initial tranche of $150 million by Citigroup
Global Markets Limited which was announced on 25 February 2022.

 

Hikma announces today that it has increased the Second Tranche by $75 million,
to an aggregate purchase price of up to $150 million.

 

 Morgan Stanley 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 Second Tranche commenced on 11 April 2022 and
are now expected to end no later than 19 August 2022 and will be carried out
on the London Stock Exchange, Aquis Stock Exchange Limited and CBOE Europe
Limited through the BXE and CXE order books. 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 Second 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

25 April 2022.

 

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

 

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