REG - Jardine Matheson Hdg - Proposed Share Buyback Programme Extension

Jardine Matheson HoldingsAnnouncement

08/12/2021 11:15

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RNS Number : 9874U  Jardine Matheson Hldgs Ltd  08 December 2021

JARDINE MATHESON HOLDINGS LIMITED

PROPOSED SHARE BUYBACK PROGRAMME EXTENSION

Jardine Matheson Holdings Limited (the 'Company') intends to increase the
amount of its share buyback programme announced on 30th September 2021 (the
'Programme') by US$250 million to now target returning up to US$500 million to
its shareholders by 30th June 2022. As of 8th December 2021 it has already
acquired close to US$250 million of shares under the Programme.

The Company's ordinary shares will be repurchased by the Company, in
accordance with powers under the Bermuda Companies Act and the constitution of
the Company. In accordance with the Company's current practice, details of any
repurchases made by the Company will be provided to the market via regulatory
announcements and published on the Company's website. The purpose of the
Programme is to reduce the capital of the Company. As the holding of treasury
shares is not provided for in the Company's constitution, any shares which the
Company repurchases will be cancelled.

The Programme is in line with Jardine Matheson Group's previously announced
capital allocation policy. The Group remains committed to return gearing
nearer to historic levels over the medium term, following the simplification
of the Group's holding structure earlier in the year.

Jonathan Lloyd, Jardine Matheson Limited

for and on behalf of Jardine Matheson Holdings Limited

8th December 2021

www.jardines.com (http://www.jardines.com)

 

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