REG - Sainsbury(J) PLC - Commencement of Second Tranche of Share Buyback

J SainsburyAnnouncement

22/11/2024 07:00

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RNS Number : 2196N  Sainsbury(J) PLC  22 November 2024

22 November 2024

 

J Sainsbury plc

(the 'Company')

 

Commencement of Second Tranche of Share Buyback Programme

 

On 26 April 2024, the Company announced the commencement of a share buyback
programme of up to £200 million, to be completed by the end of this financial
year, 1 March 2025.

 

On 15 October 2024, the Company announced the completion of the first £150
million tranche of the £200 million programme. A total of 54,797,296 ordinary
J Sainsbury plc shares ("Shares") were purchased in the first tranche for
cancellation.

 

Today, the Company is pleased to announce the commencement of the second
tranche of the share buyback programme (the "Programme") for a maximum
aggregate market value equivalent to £50 million which will be bought back in
the form of Shares. The sole purpose of the Programme is to reduce the
Company's share capital.

 

The Company has entered into non-discretionary instructions with UBS AG London
Branch to conduct the Programme on its behalf and to make trading decisions
under the Programme independently of the Company.   The Programme commences
on 22 November 2024 and can run up to and including 24 February 2025.

 

The Programme will take place within the limitations of the authority granted
to the Board of the Company by its annual general meeting, held on 4 July
2024, pursuant to which the maximum number of shares to be bought back by the
Company is 239,100,500.

 

Enquiries

 

  Investor Relations      Media

  James Collins           Rebecca Reilly
  +44 (0) 7801 813 074    +44 (0) 20 7695 7295

 

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