RECKITT BENCKISER GROUP
PLC
2024 SHARE BUYBACK PROGRAMME
- THIRD TRANCHE
On 24 July 2024, Reckitt
Benckiser Group plc ("Reckitt" or the "Company") announced its
2024 £1 billion share buyback programme (the
"Programme"). On 26
July 2024, the Company announced commencement of the first tranche
of this Programme to return up to £250
million of capital to shareholders (the "First Tranche") which completed on 1
October 2024. On 2 October 2024, Reckitt announced commencement of
the second tranche of this Programme to return up to a further £250
million of capital to shareholders (the "Second Tranche").
Reckitt today announces its
intention to commence the third tranche of the Programme (the
"Third Tranche") which
will return up to a further £500 million of capital to
shareholders, and which will commence on the second day
following completion of the Second Tranche (anticipated to be
during December 2024).
Reckitt announces that, in
connection with the Third Tranche, it has entered into an agreement
with HSBC Bank plc ("HSBC")
under which it has issued an instruction for HSBC to manage
the Third Tranche of the Programme. HSBC will, acting as
riskless principal, purchase Ordinary Shares for an aggregate
purchase price of no greater than £500 million and will
simultaneously sell such Ordinary Shares on to the
Company.
Any purchase of Ordinary Shares in
relation to this announcement will be carried out on the London
Stock Exchange and Multilateral Trading Facilities, as defined by
the Directive 2014/65/EU on markets in financial instruments
(including the delegated and implementing acts adopted under it) as
implemented, retained, amended, extended, re-enacted or otherwise
given effect in the United Kingdom from 1 January 2021
and as amended or supplemented in the United
Kingdom thereafter, and executed in accordance with the
Listing Rules and Reckitt's general authority to make
market purchases of Ordinary Shares. The shares will be
purchased in accordance with the price and volume conditions set
out in the Commission Delegated Regulation (EU) 2016/1052 of 8
March 2016 supplementing Regulation (EU) No 596/2014 of the
European Parliament and of the Council with regard to regulatory
technical standards for the conditions applicable to buyback
programmes and stabilisation measures as implemented, retained,
amended, extended, re-enacted or otherwise given effect in
the United Kingdom from 1 January 2021 and as amended or
supplemented in the United Kingdom thereafter.
Reckitt will issue a further
announcement upon the commencement of the Third Tranche and will
announce any market repurchase of Ordinary Shares no later than
7.30 a.m. on the business day following the calendar day on
which the repurchase occurred. To the extent permitted by law,
Ordinary Shares purchased under the Third Tranche of the Programme
will be held in treasury. For the avoidance of doubt, no
repurchases will be made in respect of the Company's American
Depository Receipts.
This announcement does not
constitute, or form part of, an offer or any solicitation of an
offer for securities in any jurisdiction.
CONTACT DETAILS:
Nick Ashworth
+44 (0) 7408
812350
Investor Relations
Catheryn O'Rourke
+44 (0) 1753 217 800
General Counsel & Company
Secretary
About Reckitt:
Reckitt* exists to protect, heal and
nurture in the relentless pursuit of a cleaner, healthier world. We
believe that access to the highest-quality hygiene, wellness and
nourishment is a right, not a privilege.
Reckitt is the company behind some of
the world's most recognisable and trusted consumer brands in
hygiene, health and nutrition, including Air Wick, Calgon, Cillit
Bang, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol,
Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet,
Woolite and more.
Every day, more than 20 million
Reckitt products are bought globally. We always put consumers and
people first, seek out new opportunities, strive for excellence in
all that we do and build shared success with all our partners. We
aim to do the right thing, always.
We are a diverse global team of c.
40,000 colleagues. We draw on our collective energy to meet our
ambitions of purpose-led brands, a healthier planet and a fairer
society. Find out more, or get in touch with us
at www.reckitt.com
* Reckitt is the trading name of the
Reckitt Benckiser group of companies
Reckitt Benckiser Group plc's LEI
code is 5493003JFSMOJG48V108
