Last checked at 21 Dec 2021 07:00
21st December 2021
Johnson Matthey Plc
Share buyback programme
On 24th November 2021, Johnson Matthey ("JM" or the "Company") announced its intention to conduct a share buyback programme of its ordinary shares for up to a maximum consideration of £200m.
The first tranche of the share buyback programme of up to £100m (the "Programme") will commence today and will end no later than 8th March 2022, provided that the Programme may be extended for up to 10 further trading days if necessary to account for disruption events during the initial term of the Programme. Any further tranches of the share buyback programme, which may be conducted after completion of the Programme, will be announced in due course.
The Company has entered into an irrevocable, non-discretionary agreement with Citigroup Global Markets Ltd ("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.
Ordinary shares purchased under the Programme will be held in Treasury and as a purpose of the Programme, inter alia, may be used to enable the Company to meet obligations arising from employee share option programmes, or other allocations of shares to employees of the Company.
The maximum number of shares that may be repurchased under the Programme is 19,353,343 shares, being the number of shares the Company is authorised to purchase pursuant to the authority granted by shareholders at the Company's 2021 Annual General Meeting (the "2021 AGM").
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 2021 AGM, the Market Abuse Regulation 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018), and Chapter 12 of the Financial Conduct Authority's Listing Rules. No repurchases will be made in respect of the Company's American Depositary Receipts.
ENDS
Enquiries:
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Martin Dunwoodie Victoria Barlow
| Director of Investor Relations Deputy Company Secretary
| +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: 00033774Legal Entity Identifier number: 2138001AVBSD1HSC6Z10