Last checked at 26 Apr 2024 07:00
26 April 2024
J Sainsbury plc
(the 'Company')
Commencement of share buyback programme
Further to the announcement of 7 February 2024, J Sainsbury plc is pleased to announce the commencement of a share buyback programme of up to £200 million, to be completed by the end of this financial year, 1 March 2025.
The first tranche of the share buyback programme (the "Programme") will be for a maximum aggregate market value equivalent to £150 million which will be bought back in the form of the Company's ordinary shares. The Programme will commence on 26 April 2024 and will end on or before 1 November 2024. The sole purpose of the Programme is to reduce the Company's share capital. The Company intends to cancel the repurchased ordinary shares.
The Company has entered into non-discretionary instructions with UBS AG London Branch to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company.
The Programme will take place within the limitations of the authority granted to the Board of the Company by its annual general meeting, held on 6 July 2023, pursuant to which the maximum number of shares to be bought back by the Company is 236,462,600.
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