REG - WPP PLC - Share Buy-Back Programme

WPPAnnouncement

04/03/2022 08:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220304:nRSD6026Da&default-theme=true

RNS Number : 6026D  WPP PLC  04 March 2022

 FOR IMMEDIATE RELEASE  4 March 2022

 

 

 

WPP plc ("WPP")

 

Share buy-back programme

 

WPP announces that it has entered into an agreement with Goldman Sachs
International ("Goldman Sachs") on 4 March 2022 in relation to the purchase by
Goldman Sachs of WPP's ordinary shares of 10 pence each ("Ordinary Shares")
for an aggregate purchase price of up to £200m (the "Programme"). Ordinary
Shares acquired by Goldman Sachs under the agreement will be simultaneously
on-sold by Goldman Sachs to WPP.

The purchase of shares in accordance with the Programme is expected to
commence shortly after 4 March 2022 and a further announcement will be made
upon completion. The purpose of the Programme is to reduce the share capital
of WPP.

Any purchase of Ordinary Shares contemplated by this announcement will be
carried out on the London Stock Exchange and/or other trading venues.(1) WPP's
shareholders generally authorised WPP to purchase up to a maximum of
121,258,871 Ordinary Shares at its 2021 Annual General Meeting held on 9 June
2021, subject to certain limitations (the "Authority"). The aggregate number
of Ordinary Shares acquired by the Company pursuant to the Programme shall not
exceed the maximum number of Ordinary Shares which the Company is authorised
to purchase pursuant to the Authority. The Authority expires on the earlier of
the date of the Annual General Meeting of the Company to be held in 2022 and
1 September 2022. The Programme will be executed in accordance with (and
subject to the limits prescribed by) the Authority and will be conducted
within the parameters prescribed by the Market Abuse Regulation 596/2014/EU
(as in force in the UK and as amended by the Market Abuse (Amendment) (EU
Exit) Regulations 2019), the Commission Delegated Regulation 2016/1052/EU (as
in force in the UK and as amended by the FCA's Technical Standards (Market
Abuse Regulation) (EU Exit) Instrument 2019) and in accordance with Chapter 12
of the UK Listing Rules. Any market repurchase of Ordinary Shares will be
announced no later than 7.30am on the business day following the calendar day
on which the repurchase occurred.

Goldman Sachs will make any disclosures it is legally required to make in
relation to such transactions.

( 1 ) Includes Cboe BXE, Cboe CXE and Turquoise.

For further information:

 Investors and analysts
 Peregrine Riviere         +44 7909 907193

 Media
 Chris Wade, WPP           +44 (0)20 7282 4600

 Richard Oldworth,         +44 20 7466 5000

Buchanan Communications

                           +44 7710 130 634

 

About WPP

WPP is the creative transformation company. We use the power of creativity to
build better futures for our people, planet, clients and communities. For more
information, visit www.wpp.com.

 

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  POSUOUBRUVUORAR