REG - Sainsbury(J) PLC - Commencement of Share Buyback Programme

J SainsburyAnnouncement

26/04/2024 07:00

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RNS Number : 1168M  Sainsbury(J) PLC  26 April 2024

26 April 2024

 

J Sainsbury plc

(the 'Company')

 

Commencement of share buyback programme

 

Further to the announcement of 7 February 2024, J Sainsbury plc is pleased to
announce 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.

The first tranche of the share buyback programme (the "Programme") will be for
a maximum aggregate market value equivalent to £150 million which will be
bought back in the form of the Company's ordinary shares. The Programme will
commence on 26 April 2024 and will end on or before 1 November 2024. The sole
purpose of the Programme is to reduce the Company's share capital. The Company
intends to cancel the repurchased ordinary shares.

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 will take place within the limitations of the authority granted
to the Board of the Company by its annual general meeting, held on 6 July
2023, pursuant to which the maximum number of shares to be bought back by the
Company is 236,462,600.

 

Enquiries

 

  Investor Relations      Media

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

 

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