IMI PLC Transaction in Own Shares
2024年7月26日 - 10:08PM
RNS Regulatory News
RNS Number : 0740Y
IMI PLC
26 July 2024
26 July 2024
IMI plc
Share repurchase programme
IMI plc (the Company) announces
that, in connection with the share buyback of up to £100 million
announced earlier today, it is commencing a share buyback programme
(the "Programme") to purchase ordinary shares of 28 4/7 p in the
capital of the Company ("Shares") with a value of up to £100
million, during the period starting on 29 July 2024 and ending no
later than 31 December 2024 (the "Engagement Period"), in order to
reduce the capital of the Company. Shares purchased pursuant to the
Programme will be cancelled.
The Company has entered into an
agreement with Merrill Lynch International ("BofA Securities") to
manage the first £50 million tranche of the Programme (the "First
Tranche"). BofA Securities will carry out the acquisition of Shares
in the Company (on a riskless principal basis) for subsequent
repurchase by the Company. Any further tranches of the Programme,
which may be conducted after completion of the First Tranche, will
be announced in due course.
This arrangement is in accordance
with Chapter 12 of the FCA's Listing Rules and the Company's
general authority granted by shareholders at the Company's annual
general meeting held on 9 May 2024, which limits purchases of
Shares by the Company in the market to up to approximately 10% of
the Company's issued share capital, being 26,146,669 Shares. The
Programme will also be effected within the parameters of the Market
Abuse Regulation 596/2014/EU and the Commission Delegated
Regulation 2016/1052/EU (in each case, as they form part of UK law
by virtue of the European Union (Withdrawal) Act 2018 as amended
from time to time, including where relevant pursuant to the Market
Abuse (Amendment) (EU Exit) Regulations 2019).
Enquiries to:
Louise Waldek
|
IMI
|
Tel: +44 (0)121 717 3780
|
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