Last checked at 30 Sep 2021 07:00
JARDINE MATHESON HOLDINGS LIMITEDPROPOSED SHARE BUYBACKJardine Matheson Holdings Limited (the 'Company') today announces its intention to return up to US$250 million to its shareholders by 30th June 2022 through a share buyback (the 'Buyback').
The Company's ordinary shares will be repurchased by the Company, in accordance with powers under the Bermuda Companies Act and the constitution of the Company. In accordance with the Company's current practice, details of any repurchases made by the Company will be provided to the market via regulatory announcements and published on the Company's website.
The purpose of the Buyback is to reduce the capital of the Company. As the holding of treasury shares is not provided for in the Company's constitution, any shares which the Company repurchases will be cancelled.
The Buyback is in line with Jardine Matheson Group's previously announced capital allocation policy. The Group remains committed to return gearing nearer to historic levels over the medium term, following the simplification of the Group's holding structure earlier in the year.
Jonathan Lloyd, Jardine Matheson Limitedfor and on behalf of Jardine Matheson Holdings Limited30th September 2021www.jardines.com