REG - WPP PLC - Share buyback programme

WPPAnnouncement

24/03/2022 08:00

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RNS Number : 8137F  WPP PLC  24 March 2022

FOR IMMEDIATE
RELEASE
24 March 2022

WPP plc ("WPP")

Share buyback programme

WPP announces that it has today entered into a non-discretionary agreement
with Goldman Sachs International ("GSI") in relation to the purchase by GSI,
acting as riskless principal, of WPP's ordinary shares of 10 pence each
("Ordinary Shares") for an aggregate purchase price of up to £300m (the
"Programme"). Ordinary Shares acquired by GSI under the agreement will be
simultaneously on-sold by GSI to WPP. The purchase of shares in accordance
with the Programme will take place during the period commencing 24 March 2022
and ending no later than 24 June 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, and a resolution to renew this authority is expected to
be put to WPP's 2022 Annual General Meeting in the ordinary course (such
authority, as amended or renewed from time to time, 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 current
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 ) 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

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