Last checked at 31 Jan 2020 10:15
Announcement of Non-Discretionary Share Buyback Programme
SSE plc (the 'Company') confirmed on 30 August 2019 that in light of the SCRIP take up of the 2018/19 dividend exceeding 20%, it intended to buy-back shares in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 18 July 2019, the EU Market Abuse Regulation and Chapter 12 of the Listing Rules.
In line with this, the Company announced on 30 September 2019 a programme to repurchase its ordinary shares for cancellation up to the value of £150m and not exceeding 13,420,470 ordinary shares (the 'Programme'). The first half of the Programme was completed by Morgan Stanley & Co. International plc on 2 December 2019 and the second half of the Programme commenced on 3 December 2019 by Credit Suisse Securities (Europe) Limited.
The company announces in compliance with the EU Market Abuse Regulation that it has entered into an irrevocable and non-discretionary agreement with Credit Suisse Securities (Europe) Limited to complete the £150m Programme described above.
Any share purchases under the Programme will be effected within certain pre-set parameters, and in accordance with the Company's share buyback authority granted by shareholders at the Company's Annual General Meeting on 18 July 2019 (being 103,475,152 shares), the EU Market Abuse Regulation and Chapter 12 of the UK Listing Rules. The Company confirms that it currently has no inside information.