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IMI plc announced on 23 September 2024 that it has entered into an agreement with J.P. Morgan Securities plc (JPMS plc) to manage the remainder of its share buyback programme. Under this agreement, JPMS plc will purchase shares with a value of up to £50 million as part of the up to £100 million programme announced on 26 July 2024. The maximum number of shares authorised for repurchase is 26,146,669, granted by shareholders at the AGM on 9 May 2024, with purchases expected to continue until the end of 2024 and purchased shares to be cancelled.
| Date | 23 Sept 2024 |
| Time | 09:19:53 |
| Category | Capital structure |
| ID | 2244F |
23 September 2024
IMI plc
LEI: 2138002W9Q21PF751R30
Share repurchase programme
IMI plc (the Company) announces that, in connection with the share buyback programme of up to £100 million which it announced on 26 July 2024 (the Programme), it has now entered into an agreement with J.P. Morgan Securities plc (JPMS plc) to manage the remainder of the Programme. The purpose of the Programme is to reduce the share capital of the Company.
Pursuant to the Programme, JPMS plc will purchase shares with a value of up to £50 million. The maximum number of shares that can be repurchased in connection with the Programme is 26,146,669 (being the maximum authority granted by the Company's shareholders at its AGM on 9 May 2024), as reduced by the Company's share repurchase activity within that authority to date. Shares purchased pursuant to the Programme will be cancelled. It is expected that purchases pursuant to the Programme will continue until the end of 2024.
Enquiries to:
|
Fran Burge |
IMI |
Tel: +44 (0)121 717 3780 |