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11 Apr 2022 07:00
HIKMA PHARMACEUTICALS PLC
Share Buyback Programme
London, 11 April 2022 - As previously announced on 24 February 2022 in its preliminary audited results for the year ended 31 December 2021, Hikma Pharmaceuticals PLC ("Hikma") has launched a buyback programme of up to $300 million to be executed during 2022 (the "Buyback Programme").
Hikma announces today that it has instructed Morgan Stanley & Co. International plc ("Morgan Stanley") to purchase Hikma's ordinary shares of 10 pence each ("Ordinary Shares") for an aggregate purchase price of up to $75 million, pursuant to the Buyback Programme (the "Second Tranche"). This follows the completion of the initial tranche of $150 million by Citigroup Global Markets Limited which was announced on 25 February 2022.
Morgan Stanley will act as riskless principal for the simultaneous on-sale of such shares to Hikma and will make its trading decisions concerning the timing of the purchases of Ordinary Shares independently of Hikma. Purchases of the Ordinary Shares under the Second Tranche will commence on 11 April 2022 and end no later than 20 July 2022 and will be carried out on the London Stock Exchange, Aquis Stock Exchange Limited and CBOE Europe Limited through the BXE and CXE order books.
Hikma expects to announce a third tranche of the Buyback Programme in due course.
The purpose of the Buyback Programme is to reduce the share capital of Hikma. To the extent permitted by law, all Ordinary Shares purchased under the Buyback Programme will be cancelled.
Any acquisitions under the Second Tranche will be carried out within certain pre-set parameters, and in accordance with Hikma's general authority to repurchase Ordinary Shares as granted at Hikma's Annual General Meeting on 23 April 2021, and the general authority to repurchase Ordinary Shares being sought at the forthcoming Annual General Meeting, to be held on 25 April 2022.
Any acquisitions will be made in accordance with the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules. The market will be notified in accordance with those rules if and when purchases are made.
Enquiries |
Susan Ringdal EVP, Strategic Planning and Global Affairs | +44 (0)20 7399 2760 / +44 (0)7776 477050 |
Guy Featherstone Senior Investor Relations Manager | +44 (0)20 3892 4389 / +44 (0)7795 896738 |
Layan Kalisse Investor Relations Analyst | +44 (0)20 7399 2788 / +44 (0)7970 709912 |
About Hikma
Hikma helps put better health within reach every day for millions of people around the world. For more than 40 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across the United States (US), the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 8,700 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com.
(LEI:549300BNS685UXH4JI75)
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