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6 Sep 2019 18:05
Burberry Group plc
BURBERRY GROUP PLC - SHARE REPURCHASE PROGRAMME
Burberry Group plc ("Burberry" or the "Company") announces that it will commence a share repurchase programme of the Company's ordinary shares of 0.05p each (the "Ordinary Shares") up to a maximum consideration of £150m (the "Programme").
On 6 September 2019 Burberry entered into a non-discretionary instruction with Morgan Stanley & Co International Plc ("Morgan Stanley") in relation to the purchase by Morgan Stanley, acting as principal, of Ordinary Shares in the Company's share capital (the "Shares") for an aggregate purchase price of no greater than £150m and the simultaneous on-sale of such Shares by Morgan Stanley to Burberry. The purchase of Shares will take place during the period commencing on 9 September 2019 and ending no later than 23 March 2020.
Any purchase of Ordinary Shares done in relation to this announcement will be carried out in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 17 July 2019 and the Listing Rules, and Burberry's general authority to make market purchases of Shares. Burberry will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, Ordinary Shares purchased under the Programme will be held in treasury.
Morgan Stanley may undertake transactions in shares (which may include sales and hedging activities, in addition to purchases) in order to manage its market exposure under the Programme. Morgan Stanley will make any disclosures it is legally required to make in relation to such transactions.
Enquiries
Investors and analysts | |||||
Annabel Brownrigg-Gleeson | VP, Investor Relations | 020 3367 4458 Annabel.Brownrigg-Gleeson@burberry.com |
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Media | |||
Andrew Roberts | VP, Corporate Relations | 020 3367 3764 andrew.roberts@burberry.com | |
This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Burberry Group plc shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction.
Burberry is listed on the London Stock Exchange (BRBY.L) and is a constituent of the FTSE 100 index. ADR symbol OTC:BURBY.
BURBERRY, the Equestrian Knight Device, the Burberry Check and the Thomas Burberry Monogram and Print are trademarks belonging to Burberry.
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