REG - Standard Chrtrd PLC - Share Buy-Back

Standard CharteredAnnouncement

26/02/2024 10:15

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RNS Number : 4459E  Standard Chartered PLC  26 February 2024

STANDARD CHARTERED PLC

26 FEBRUARY 2024

SHARE BUY-BACK

Standard Chartered PLC (the "Group") announces that, as noted in its
announcement on 23 February 2024, it will commence buying-back ordinary shares
of US$0.50 each (the "Ordinary Shares") for up to a maximum aggregate amount
of US$1 billion (the "Buy-back"). The purpose of the Buy-back is to reduce the
Group's outstanding Ordinary Shares.

The Group has entered into a non-discretionary agreement with J.P. Morgan
Securities plc ("JPMS plc") to enable the purchase of Ordinary Shares by JPMS
plc, acting as principal, during the period running from 27 February 2024
until and including 23 August 2024 (subject to no regulatory objections or
concerns arising), for an aggregate purchase price of up to, but no greater
than, US$1 billion and the on-sale of such Ordinary Shares by JPMS plc to the
Group.

The maximum number of Ordinary Shares that can be purchased under the Buy-back
is 250,000,000 Ordinary Shares (save that any purchases shall not exceed the
amount that represents the Group's available general authority to purchase
Ordinary Shares as granted from time to time by its shareholders at its annual
general meeting). JPMS plc will make their trading decisions in relation to
the Ordinary Shares independently of the Group.

Any purchases of Ordinary Shares will be carried out on the London Stock
Exchange and Cboe Europe Limited (through the BXE and CXE order books), and
any other UK recognised investment exchange which may be agreed, in accordance
with pre-set parameters and in accordance with (and subject to limits
prescribed by) the Group's general authority to repurchase Ordinary Shares as
granted from time to time by its shareholders at its annual general meeting,
Chapter 12 of the Financial Conduct Authority's Listing Rules, Article 5(1) of
Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the
European Union (Withdrawal) Act 2018), Commission Delegated Regulation (EU)
2016/1052 (as incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018), the Rules Governing the Listing of Securities on the
Stock Exchange of Hong Kong Limited and the Hong Kong Codes on Takeovers and
Mergers and Share Buy-Backs. For the avoidance of doubt, no purchases of
Ordinary Shares will be carried out on the Stock Exchange of Hong Kong
Limited. Ordinary Shares purchased under the Buy-back will be cancelled.
 

For further information, please contact:

Gregg J Powell, Group Head, Investor Relations:
            +44 (0) 20 7885 5172

 

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