Johnson Matthey PLC Share buyback programme
03 Juli 2024 - 8:00AM
RNS Regulatory News
RNS Number : 8856U
Johnson Matthey PLC
03 July 2024
3rd July 2024
Johnson Matthey Plc
Share buyback programme
Johnson Matthey Plc ("JM" or the
"Company") announces that as outlined in its announcement on
20th March 2024, it will commence a share buyback
programme to purchase ordinary shares of 110
49/53 pence each in the Company ("Ordinary
Shares") for up to a maximum consideration of £250m. The first
tranche of this share buyback programme of up to a maximum
consideration of £125m (the "Programme") will commence
immediately.
The Company has entered into an
irrevocable, non-discretionary agreement with Citigroup Global
Markets Limited ("Citi") to manage the Programme, pursuant to which
Citi will purchase Johnson Matthey Ordinary Shares (acting as
principal) for subsequent repurchase by the Company. Citi will make
trading decisions under the Programme independently of JM.
Purchases may continue during any closed period to
which the Company is subject. The sole purpose of the share buyback
programme is to reduce the share capital of the Company. All shares
repurchased under the Programme will be cancelled.
The maximum number of shares that
may be repurchased under the Programme is 18,345,341 shares, being
the number of shares the Company is authorised to purchase pursuant
to the authority granted by shareholders at the Company's 2023
Annual General Meeting (the "2023 AGM") and any subsequent
authority.
Purchases of the Company's Ordinary
Shares pursuant to the Programme will commence immediately and end
no later than 4th November 2024.
Any purchase of Johnson Matthey
ordinary shares in relation to this announcement will be effected
within certain pre-set parameters and in accordance with Johnson
Matthey's general authority to repurchase ordinary shares granted
by its shareholders at the 2023 AGM, Chapter 12 of the Financial
Conduct Authority's Listing Rules, the Market Abuse Regulation (EU)
596/2014 (as in force in the UK and as amended by the Market Abuse
(Amendment) (EU Exit) Regulations 2019); and the Commission
Delegated Regulation (EU) No 2016/1052 (as in force in the UK and
as amended by the FCA's Technical Standards (Market Abuse
Regulation) (EU Exit) Instrument 2019). No
repurchases will be made in respect of the Company's American
Depositary Receipts.
ENDS
Enquiries:
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Martin Dunwoodie
Victoria Barlow
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Director of Investor Relations and
Treasury
Deputy Company Secretary
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+44 20 7269 8241
+44 20 7269 8431
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Johnson Matthey Plc is listed on the
London Stock Exchange (JMAT)
Registered
in England & Wales number:
00033774
Legal Entity Identifier number:
2138001AVBSD1HSC6Z10
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