RECKITT
BENCKISER GROUP PLC
SHARE
BUYBACK PROGRAMME -
COMPLETION OF SECOND TRANCHE AND COMMENCEMENT OF THIRD
TRANCHE
Reckitt Benckiser Group plc
("Reckitt" or the
"Company") confirms
the successful completion of the second
tranche of £250m (the "Second Tranche") of its £1 billion
share buyback programme (the "Programme") announced on 25 October
2023.
Under the Second Tranche, between 1
February 2024 and 3 April 2024, the Company has purchased 4,861,531
ordinary shares of 10p each (the "Ordinary Shares") at an average price
of £51.42, and which are now held in treasury.
Further to the announcement on 27
March 2024, the Company confirms that the third tranche of the
Programme (the "Third
Tranche") to return
a further up to £500 million of capital to
shareholders, will commence on 5 April 2024 and
will end on or before 31 July 2024. As previously announced,
the purpose of the Third Tranche is to reduce the share
capital of the Company. The Third Tranche will
take place within the limitations of the authority granted to the
Board by shareholders at the
Company's Annual General Meeting on 3 May 2023. Pursuant to that authority, the maximum number of shares
which remain available for purchase under the Third Tranche is
62,500,000 on or prior to 2 May 2024 and, thereafter such number of
Shares as the Company is authorised to purchase by special
resolution of shareholders at the Company's Annual General Meeting
on 2 May 2024.
As previously announced, Reckitt has
entered into a non-discretionary agreement
with Morgan Stanley & Co. International plc ("Morgan Stanley") under which it has
instructed Morgan Stanley to manage the
Third Tranche of the Programme. Morgan Stanley 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. To the
extent permitted by law, Ordinary Shares purchased under the Third
Tranche of the Programme will be held in treasury.
This announcement does not
constitute, or form part of, an offer or any solicitation of an
offer for securities in any jurisdiction.
CONTACT DETAILS:
Contacts
Richard Joyce
+44 (0)7807 418516
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, Clearasil, 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