Barclays PLC Share Buy-back Programme (1604H)
August 02 2021 - 01:00AM
UK Regulatory
TIDMBARC
RNS Number : 1604H
Barclays PLC
02 August 2021
2 August 2021
Barclays PLC
Commencement of Buy-back
Barclays PLC (the "Company") announces that, as outlined in its
announcement on 28 July 2021, it will commence a share buy-back
programme to purchase ordinary shares of 25 pence each in the
Company ("Ordinary Shares") for up to a maximum consideration of
GBP500m (the "Buy-back"). The Buy-back will commence on 2 August
2021 and end no later than 1 December 2021 (subject to regulatory
approval remaining in place). The purpose of the Buy-back is to
reduce the share capital of the Company and therefore Ordinary
Shares purchased under the Buy-back will be cancelled.
The Company has entered into an irrevocable, non-discretionary
agreement with Citigroup Global Markets Limited ("Citi") to conduct
the Buy-back on its behalf and carry out on-market purchases of
Ordinary Shares, acting as riskless principal, and to on-sell such
Ordinary Shares to the Company.
Citi will make trading decisions in relation to the Buy-back
independently of the Company. Any purchases of Ordinary Shares
under the Buy-back will be carried out on the London Stock Exchange
in accordance with certain pre-set parameters set out in the
agreement with Citi and in accordance with (and subject to the
limits prescribed by) the Company's general authority to repurchase
Ordinary Shares granted by its shareholders at the annual general
meeting on 5 May 2021 (the "2021 Authority"), Chapter 12 of the
Financial Conduct Authority's Listing Rules, Article 5(1) of the
Market Abuse Regulation (EU) No 596/2014 (as it forms part of
Retained EU Law as defined in the European Union (Withdrawal) Act
2018), the Commission Delegated Regulation (EU) No 2016/1052 (as it
forms part of Retained EU Law as defined in the European Union
(Withdrawal) Act 2018), and applicable US federal securities
laws.
No repurchases will be made in the United States or in respect
of the Company's American Depositary Receipts.
The maximum number of Ordinary Shares that may be repurchased
under the Buy-back is 1,736,530,906, being the number of Ordinary
Shares the Company is authorised to repurchase under the 2021
Authority.
- ENDS -
For further information, please contact:
Investor Relations Media Relations
Chris Manners Tom Hoskin
+44 (0) 20 7773 2136 +44 (0) 20 7116 4755
About Barclays
Barclays is a British universal bank. We are diversified by
business, by different types of customer and client, and geography.
Our businesses include consumer banking and payments operations
around the world, as well as a top-tier, full service, global
corporate and investment bank, all of which are supported by our
service company which provides technology, operations and
functional services across the Group. For further information about
Barclays, please visit our website home.barclays.
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