10 May 2016 17:20
10th May 2016
For immediate release
Reckitt Benckiser Group plc
Share Repurchase Programme
On 30 December 2015 Reckitt Benckiser Group plc ("RB" or the "Company") announced the commencement of the 2016 share repurchase programme of the Company's ordinary shares of ten pence each (the "Ordinary Shares") for up to a maximum consideration of £800m (the "Programme").
In continuation of the Programme, RB today announces that it has entered into an irrevocable, non-discretionary arrangement with Morgan Stanley & Co. International PLC ("Morgan Stanley") to enable the purchase, within certain pre-set parameters, of up to a maximum of 2,500,000 Ordinary Shares during the period running from 11 May 2016 and expected to end by 29 June 2016 but ending no later than 7th July 2016, therefore running through RB's close period of 1 July to 29 July 2016. Morgan Stanley will make its trading decisions in relation to the purchase of the Company's securities independently of, and uninfluenced by the Company.
Any purchase of Ordinary Shares done in relation to this announcement pursuant to the Programme will be carried out on the London Stock Exchange and executed in accordance with the Listing Rules and RB's general authority to make market purchases of Shares. RB 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. Ordinary Shares purchased under the Programme will be held in treasury.
Morgan Stanley may undertake transactions in Ordinary Shares (which may include sales and hedging activities, in addition to purchases) in order to manage its market exposure under the Morgan Stanley Programme. Morgan Stanley will make any disclosures it is legally required to make in relation to such transactions.
Contact:
Christine Logan
Company Secretary
Reckitt Benckiser Group plc
01753 217800
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.