SSE plc share repurchase programme
SSE plc (the "Company") announces that it has instructed Morgan Stanley & Co. International Plc in relation to an irrevocable, non-discretionary programme to purchase its shares for cancellation, during the period which commences on 6th July 2017 and ends no later than 31st August 2017 (the "Programme").
The aggregate purchase price of all shares acquired under the Programme will be no greater than £70 million1. The purpose of the Programme is to reduce the share capital of the Company.
Any acquisitions under the Programme will be effected within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, the EU Market Abuse Regulation (596/2014) (and in particular Article 5 thereof), the Commission Delegated Regulation (2016/1052) and Chapter 12 of the Listing Rules. The Company confirms that it currently has no unpublished price sensitive information.
These arrangements form part of the Company's capital return programme announced on 9 November 2016.
1 And in any event, the maximum number of shares to be purchased will not exceed the maximum number of ordinary shares of 50 pence each that may be purchased under the authority granted to the Company by shareholders at the Company's Annual General Meeting on 21 July 2016 (being 100,759,681) less any shares purchased to date under this authority.
Enquiries:
Sally Fairbairn
Company Secretary
Tel: +44 (0)345 0760 530
