REG - Imperial Brands PLC - Second Share Buyback Tranche of up to £725 million

Imperial BrandsAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260413:nRSM0791Aa&default-theme=true

RNS Number : 0791A  Imperial Brands PLC  13 April 2026

Imperial Brands PLC

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

13 April 2026

Imperial Brands PLC second share buyback tranche of up to £725 million

Imperial Brands PLC (the "Company") announced on 7 October 2025, that it
intends to repurchase up to £1.45 billion of shares in the period to 28
October 2026. This is part of the Company's commitment to an ongoing,
evergreen buyback programme to 2030 that will deliver a material reduction in
the capital base over time, which, together with our progressive dividend
policy, will provide an ongoing source of shareholder returns.

The share repurchase programme is in line with the Company's policy to
distribute surplus capital to shareholders, having maintained leverage at the
lower end of its 2.0-2.5 times net debt to EBITDA target range and with the
intention to remain at this level going forwards.

The first £725m tranche of the current share repurchase programme has been
completed. To execute the second tranche of this share repurchase programme,
the Company has entered into an irrevocable and non-discretionary arrangement
with Barclays Capital Securities Limited ("Barclays") to repurchase up to
£725 million of its shares commencing from 13 April 2026 and expected to end
no later than 28 October 2026 (the "Programme").

Under this arrangement, Barclays will act as riskless principal and will make
decisions under the Programme independently from the Company. Purchases may
continue during any closed period to which the Company is subject. The purpose
of the share repurchase programme is to reduce the share capital of Imperial
Brands. All shares repurchased as part of this arrangement will be cancelled.

Share purchases will take place in open market transactions and be carried out
on the London Stock Exchange and/or other recognised investment exchange(s)
and may be made from time to time depending on market conditions, share price,
trading volume and other factors.

Any purchases of ordinary shares by the Company in relation to this
announcement will be effected within certain pre-set parameters and in
accordance with (and subject to the limits prescribed by) the Company's
general authority to repurchase shares. The maximum number of shares that may
be repurchased under the Programme is 80,120,000 shares, less shares already
repurchased since the date of the Company's 2026 Annual General Meeting
("AGM"), being the number of shares the Company is authorised to purchase
pursuant to the authority granted by shareholders at the Company's 2026 AGM.
The Programme will also be effected within the parameters of the UK Market
Abuse Regulation and in accordance with Chapter 9 of the UK Listing Rules of
the Financial Conduct Authority. The Company confirms that it currently has no
unpublished inside information.

ENDS

Contacts

 John Crosse      +44 (0)7484 967 842
 Jennifer Ramsey  +44 (0)7974 615 739
 Henry Dodd       +44 (0)7941 648 421

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAPLFFFNKEEA



            Copyright 2019 Regulatory News Service, all rights reserved