Hibernia REIT PLC ?25m share buyback programme (5761U)
April 01 2019 - 1:01AM
UK Regulatory
TIDMHBRN
RNS Number : 5761U
Hibernia REIT PLC
01 April 2019
EUR25m share buyback programme
Hibernia REIT plc ("Hibernia" or the "Company") has announced
today the sale of 77 Sir John Rogerson's Quay and its intention to
return the net sales proceeds of EUR35m to shareholders, commencing
with an initial share buyback of up to EUR25m. The Company has
entered into irrevocable, non-discretionary arrangements with
Goodbody Stockbrokers UC ("Goodbody") to repurchase ordinary shares
on the Company's behalf up to a maximum consideration of EUR25m
(the "Share Buyback Programme").
The Share Buyback Programme will commence on 2 April 2019 and
may continue until 31 December 2019 subject to market conditions,
the ongoing capital requirements of the business and termination
provisions customary for arrangements of this nature. The maximum
number of ordinary shares to be repurchased under the Share Buyback
Programme is 69,758,891 and these may be repurchased on either
Euronext Dublin or the London Stock Exchange. The purpose of the
Share Buyback Programme is to reduce the Company's share capital
and it is intended that shares repurchased will be cancelled.
Goodbody will make its trading decisions in relation to the
Company's shares independently of, and uninfluenced by, the Company
and in accordance with certain pre-set parameters. The Share
Buyback Programme will be conducted (i) in accordance with the
Company's general authority to repurchase ordinary shares as
approved by shareholders at the Company's AGM on 31 July 2018 (and
following its expiry, in accordance with, and subject to, a renewed
general repurchase authority at the 2019 AGM) and (ii) the
parameters prescribed by the Market Abuse Regulation 596/2014/EU,
the Commission Delegated Regulation (EU) 2016/1052 and the
applicable laws and regulations of Euronext Dublin and the London
Stock Exchange.
Details of any ordinary shares repurchased will be notified to a
Regulatory Information Service by the Company following repurchase.
The Company confirms that currently it has no unpublished inside
information.
ENDS
Contacts:
Hibernia REIT plc +353 1 536 9100
Tom Edwards-Moss, Chief Financial Officer
Sean O'Dwyer, Company Secretary
Murray Consultants
Doug Keatinge: +353 86 037 4163, dkeatinge@murraygroup.ie
Jill Farrelly: +353 87 738 6608, jfarrelly@murraygroup.ie
About Hibernia REIT plc
Hibernia REIT plc is an Irish Real Estate Investment Trust
("REIT"), listed on Euronext Dublin and the London Stock Exchange.
Hibernia owns and develops property and specialises in Dublin city
centre offices.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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