Last checked at 30 Sep 2022 17:23
30 September 2022
Deliveroo plc ("Deliveroo" or the "Company")
Update on EBT Share Purchase Programme
The Company announces today that a review has been carried out of the progress of the EBT Share Purchase Programme, in which Ocorian Limited ("Ocorian" or the "Trustee"), which administers the Roofoods Ltd Employee Benefit Trust (the "EBT"), is making market purchases up to £75,000,000 of Class A ordinary shares of 0.5p each in the Company ("A Shares"). Since the announcement of the EBT Share Purchase Programme on 1 September 2022, Ocorian has purchased approximately 8.2 million A Shares for a total consideration of approximately £7.2 million (excluding expenses).
Following such review, it was concluded that the price and volume limits as announced on 1 September 2022 are significantly impacting the progress of the EBT Share Purchase Programme. In order to proceed with the EBT Share Purchase Programme in an effective manner, Ocorian and its broker, Goldman Sachs International, have agreed that on any given trading day a purchase of A Shares under the EBT Share Purchase Programme may exceed 25% but not exceed 50% of the average daily volume of A Shares for the last 20 days on the trading venue on which the purchase is carried out. Furthermore, the maximum price paid for such A Shares may exceed 5% above the average of the closing price of the A Shares as derived from the Primary Exchange Daily Official List for the five business days before the purchase is made. On days where a purchase of A Shares exceeds 25% of the average daily trading volume, the purchase will not comply with the provisions of Article 5 of the Market Abuse Regulation No.596/2014. On days where a purchase of shares exceeds 5% above the preceding five business-day average closing price, the purchase will not comply with the provisions of Chapter 12 of the Financial Conduct Authority's Listing Rules (which are only applicable to issuers with a premium listing).
No other changes have been made to the EBT Share Purchase Programme or the basis on which it will be conducted (in each case as announced on 1 September 2022).
Contacts | |
Investor relations | |
David Hancock, VP Investor Relations Tim Warrington, Investor Relations Director | investors@deliveroo.co.uk |
Media relations | |
Joe Carberry, VP Communications | 07787 561 905 |
Tulchan Communications, James Macey White,Jessica Reid, Mark Burgess
| Deliveroo@tulchangroup.com
|
About Deliveroo
Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. Deliveroo works with approximately 180,000 best-loved restaurants and grocery partners, as well as around 180,000 riders to provide the best food delivery experience in the world. Deliveroo is headquartered in London, with offices around the globe. Deliveroo operates across 11 markets, including Australia, Belgium, France, Hong Kong, Italy, Ireland, Netherlands, Singapore, United Arab Emirates, Kuwait and the United Kingdom. Further information regarding Deliveroo is available on the Company's website at https://corporate.deliveroo.co.uk/.