REG - Rio Tinto - Rio Tinto share buyback programme <Origin Href="QuoteRef">RIO.L</Origin>

Rio TintoAnnouncement

01/03/2017 07:07

RNS Number : 1410Y
Rio Tinto PLC
01 March 2017
Rio Tinto share buyback programme
1 March 2017
Share buy-back programme  
As announced on 8 February 2017, Rio Tinto plc and Rio Tinto Limited ("Rio Tinto" or the "Company") announce that its share buy-back programme to repurchase Rio Tinto plc's ordinary shares of 10 pence each will commence today, ending not later than 31 December 2017 (the "Programme").
Rio Tinto has entered into separate non-discretionary irrevocable instructions with each of Deutsche Bank AG, London Branch and J.P. Morgan Securities plc, each acting as riskless principal, in relation to the repurchase of shares for the period from today until 28 July 2017 for an aggregate maximum consideration of up to 160 million. 
The purpose of the Programme is to reduce the share capital of the Company. Accordingly, all shares repurchased will be cancelled.
Any acquisitions will be effected within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares granted by its shareholders at the annual general meeting of Rio Tinto plc on 14 April 2016 (the "2016 Authority"), Chapter 12 of the Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes. Any purchases effected following the expiry of the 2016 Authority will be conditional on a similar shareholder authority being granted at the Company's annual general meeting on 12 April 2017. 
The aggregate maximum consideration payable by the Company in respect of the repurchase of shares under the Programme up to 31 December 2017 is $500 million. The maximum number of shares that may be repurchased under the Programme is 137,431,729, being the number of shares able to be repurchased under the 2016 Authority. 
Contacts: 
media.enquiries@riotinto.com
www.riotinto.com 
Follow @RioTinto on Twitter 
Media Relations, EMEA/Americas
Illtud Harri
T +44 20 7781 1152
M +44 7920 503 600
Media Relations, Australia/Asia
Ben Mitchell
T +61 3 9283 3620
M +61 419 850 212
David Outhwaite
T +44 20 7781 1623
M +44 7787 597 493
Bruce Tobin
T +61 3 9283 3612
M +61 419 103 454
David Luff
T +44 20 7781 1177
M +44 7780 226 422
Matthew Klar
T +61 7 3625 4244
M +61 457 525 578
Investor Relations, EMEA/Americas
John Smelt
T +44 20 7781 1654
M +44 7879 642 675
Investor Relations, Australia/Asia
Natalie Worley
T +61 3 9283 3063
M +61 409 210 462
David Ovington
T +44 20 7781 2051
M +44 7920 010 978
Rachel Storrs
T +61 3 9283 3628
M +61 417 401 018
Nick Parkinson
T +44 20 7781 1552
M +44 7810 657 556


This information is provided by RNS
The company news service from the London Stock Exchange
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