REG - WPP PLC - Share buyback programme

WPPAnnouncement

16/12/2021 07:01

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RNS Number : 8029V  WPP PLC  16 December 2021

 FOR IMMEDIATE RELEASE  16 December 2021

 

WPP plc ("WPP")

Share buyback programme

WPP announces that it has today entered into a non-discretionary agreement
with Citigroup Global Markets Limited ("Citi") in relation to the purchase by
Citi, acting as riskless principal, of WPP's ordinary shares of 10
pence each ("Ordinary Shares") for an aggregate purchase price of up
to £250m (the "Programme"). Ordinary Shares acquired by Citi under the
agreement will be simultaneously on-sold by Citi to WPP. The purchase of
shares in accordance with the Programme will take place during the period
commencing 16 December 2021 and ending no later than 18 February 2022. 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) and
will be effected within certain pre-set parameters. 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.

 

( 1 ) Cboe BXE, Cboe CXE and Turquoise.

 

For further information:

 

 Investors and analysts
 Peregrine Riviere         +44 7909 907193
 Fran Butera (US)          +1 914 484 1198

 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 a 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

 

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