20 February 2015
SHARE BUYBACK UPDATE
Further to the announcement on 10 December 2014, Rolls-Royce Holdings plc (the "Company") announces that the first £250m tranche of the share buyback has been completed.
The Company has today initiated the second £250m tranche to enable the purchase of its ordinary shares.
The aim of the buyback is to reduce the issued share capital of the Company, helping enhance returns for shareholders.
The second £250 million tranche will be a non-discretionary programme (the "Programme") and is irrevocable, when the Company is in a prohibited period. The purchases made under the Programme will be managed by Morgan Stanley who will make their trading decisions in relation to the Company's securities independently of, and uninfluenced by, the Company.
Any purchases pursuant to these arrangements will be carried out within certain pre-set parameters and in accordance with the Listing Rules, other applicable law and the limitations of the repurchase authority approved at the last Annual General Meeting of shareholders.
The shares to be purchased on behalf of the Company will either be cancelled or held in treasury.
About Rolls-Royce Holdings plc
1. Rolls-Royce's vision is to create better power for a changing world via two main business divisions, Aerospace and Land & Sea. These business divisions address markets with two strong technology platforms, gas turbines and reciprocating engines. Aerospace comprises Civil Aerospace and Defence Aerospace. Land & Sea comprises Marine, Nuclear and Power Systems.
2. Rolls-Royce has customers in more than 120 countries, comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers including 70 navies, and more than 5,000 power and nuclear customers.
3. Our business is focused on the 4Cs:
· Customer - placing the customer at the heart of our business
· Concentration - deciding where to grow and where not to
· Cost - continually looking to increase efficiency
· Cash - improving financial performance.
4. Annual underlying revenue was £14.6 billion in 2014, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £73.7 billion at the end of 2014.
5. In 2014, Rolls-Royce invested £1.2 billion on research and development. We also support a global network of 31 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
6. Rolls-Royce employs over 54,000 people in more than 50 countries. Over 15,500 of these are engineers.
7. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2014 we employed 354 graduates and 357 apprentices through our worldwide training programmes. Globally we have over 1,000 Rolls-Royce STEM ambassadors who are actively involved in education programmes and activities; we have set ourselves a target to reach 6 million people through our STEM outreach activities by 2020.
For further information, please contact:
Richard Wray
Director of External Communications
Rolls-Royce plc
Tel: +44 (0)20 7227 9163
Mobile +44 (0)7974 918 416
Email: [email protected]
www.Rolls-Royce.com
