REG - Reckitt Benckiser Gp - Share Buyback Programme - Third Tranche

Reckitt BenckiserAnnouncement

04/04/2024 10:15

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RNS Number : 3337J  Reckitt Benckiser Group PLC  04 April 2024

RECKITT BENCKISER GROUP PLC

 

SHARE BUYBACK PROGRAMME -

COMPLETION OF SECOND TRANCHE AND COMMENCEMENT OF THIRD TRANCHE

 

 

Reckitt Benckiser Group plc ("Reckitt" or the "Company") confirms the
successful completion of the second tranche of £250m (the "Second Tranche")
of its £1 billion share buyback programme (the "Programme") announced on 25
October 2023.

 

Under the Second Tranche, between 1 February 2024 and 3 April 2024, the
Company has purchased 4,861,531 ordinary shares of 10p each (the "Ordinary
Shares") at an average price of £51.42, and which are now held in treasury.

 

Further to the announcement on 27 March 2024, the Company confirms that the
third tranche of the Programme (the "Third Tranche") to return a further up to
£500 million of capital to shareholders, will commence on 5 April 2024 and
will end on or before 31 July 2024.  As previously announced, the purpose of
the Third Tranche is to reduce the share capital of the Company. The Third
Tranche will take place within the limitations of the authority granted to the
Board by shareholders at the Company's Annual General Meeting on 3 May 2023.
Pursuant to that authority, the maximum number of shares which remain
available for purchase under the Third Tranche is 62,500,000 on or prior to 2
May 2024 and, thereafter such number of Shares as the Company is authorised to
purchase by special resolution of shareholders at the Company's Annual General
Meeting on 2 May 2024.

 

As previously announced, Reckitt has entered into a non-discretionary
agreement with Morgan Stanley & Co. International plc ("Morgan Stanley")
under which it has instructed Morgan Stanley to manage the Third Tranche of
the Programme.  Morgan Stanley will, acting as riskless principal, purchase
Ordinary Shares for an aggregate purchase price of no greater than £500
million and will simultaneously sell such Ordinary Shares on to the Company.
To the extent permitted by law, Ordinary Shares purchased under the Third
Tranche of the Programme will be held in treasury.

 

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.

 

CONTACT DETAILS:

 

Contacts

 

Richard Joyce
 
+44 (0)7807 418516

Investor Relations

 

Catheryn O'Rourke
 
+44 (0) 1753 217 800

General Counsel & Company Secretary

 

 

About Reckitt:

 

Reckitt* exists to protect, heal and nurture in the relentless pursuit of a
cleaner, healthier world. We believe that access to the highest-quality
hygiene, wellness and nourishment is a right, not a privilege.

 

Reckitt is the company behind some of the world's most recognisable and
trusted consumer brands in hygiene, health and nutrition, including Air Wick,
Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon,
Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet,
Woolite and more.

 

Every day, more than 20 million Reckitt products are bought globally. We
always put consumers and people first, seek out new opportunities, strive for
excellence in all that we do and build shared success with all our partners.
We aim to do the right thing, always.

 

We are a diverse global team of c. 40,000 colleagues. We draw on our
collective energy to meet our ambitions of purpose-led brands, a healthier
planet and a fairer society.  Find out more, or get in touch with us
at www.reckitt.com (http://www.reckitt.com/)

 

* Reckitt is the trading name of the Reckitt Benckiser group of companies

 

Reckitt Benckiser Group plc's LEI code is 5493003JFSMOJG48V108

 

 

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