REG - Tate & Lyle PLC - Launch of Share Buyback

Tate & LyleAnnouncement

20/06/2024 07:15

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RNS Number : 1334T  Tate & Lyle PLC  20 June 2024

20 June 2024

 

Tate & Lyle PLC

ANNOUNCEMENT OF THE COMMENCEMENT OF A

NON-DISCRETIONARY SHARE BUYBACK PROGRAMME

Tate & Lyle PLC (the "Company") announces that it will shortly commence a
share buyback programme (the "Programme") of up to £215 million.

On 23 May 2024, the Company announced the intention to return the net cash
proceeds from the sale of its remaining interest in Primient to shareholders
through an on-market share buyback programme.  Previously, this programme was
due to start following completion of the Primient sale, but it is now being
initiated today.

The Programme, which is non-discretionary, will commence on 20 June 2024 and
will end on or before 31 March 2025.

The sole purpose of the Programme is to reduce the Company's share capital.

The Company has entered into an agreement with Merrill Lynch International
(the "Broker") to conduct the Programme on its behalf and to make trading
decisions under the programme independently of the Company. The Broker will
purchase the Company's ordinary shares as principal and sell them on to the
Company in accordance with the terms of their engagement. The Company intends
to hold the shares it purchases through the programme as treasury shares.

Any purchases of ordinary shares by the Company in relation to this
announcement will be made in accordance with certain pre-set parameters set
out in the terms of the Broker's engagement, the general authority of the
Company to repurchase shares granted by shareholders at the Company's Annual
General Meeting held on 27 July 2023 (which permits the Company to purchase no
more than 40,165,770 of the Company's ordinary shares).

The LEI reference for Tate & Lyle PLC is 2138008K14474WPKZ244.

End

 

For further information please contact:

Christopher Marsh, VP, Investor Relations

Mobile: +44 (0)7796 192 688

 

Nick Hasell (FTI Consulting), Media Relations

Mobile: +44 (0)7825 523 383

 

 

About Tate & Lyle:

Supported by our 160-year history of ingredient innovation, we partner with
customers to provide consumers with healthier and tastier choices when they
eat and drink. We are proud that millions of people around the world consume
products containing our ingredients every day.  Through our expertise in
sweetening, fortification, and texture, we develop ingredient solutions which
reduce sugar, calories, and fat, add fibre and protein, and provide texture
and stability in categories including beverages, dairy, bakery, snacks, soups,
sauces, and dressings.

We have more than 3,300 employees working in around 58 locations serving
customers across 121 countries. Science, Solutions, Society is our brand
promise and how we will achieve our purpose of Transforming Lives Through the
Science of Food. By living our purpose we believe we can successfully grow our
business and have a positive impact on society. We live our purpose in three
ways, by supporting healthy living, building thriving communities and caring
for our planet.

Tate & Lyle is listed on the London Stock Exchange under the symbol
TATE.L. American Depositary Receipts trade under TATYY. In the year to 31
March 2024, Tate & Lyle revenue from continuing operations totalled £1.65
billion.  For more information, please visit https://www.tateandlyle.com
(https://www.tateandlyle.com) or follow Tate & Lyle on X, Linkedin
(https://www.linkedin.com/company/tate-&-lyle) , Facebook
(https://www.facebook.com/TateandLyleCommunity) or YouTube
(https://www.youtube.com/c/TateLylePLC) .

 

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