On 26 July 2018, the Board of Diageo plc approved a share buyback programme to return up to £2.0 billion to shareholders during the financial year ending 30 June 2019 ("the F19 Programme").
Diageo today announces that it has entered into a non-discretionary agreement with Citigroup Global Markets Limited ("Citi") to execute the first tranche of the F19 Programme to enable the company to buy back shares. This agreement will commence 10 August 2018 and is expected to end no later than 31 January 2019. This initial tranche will be for a value of up to £1.4 billion with further tranche(s) to be announced during the financial year ending 30 June 2019.
Citi will make its trading decisions in relation to the company's securities independently of, and uninfluenced by, the company. Any purchase of shares by Diageo contemplated by this announcement will be carried out on the London Stock Exchange or another recognised investment exchange.
The purpose of the buyback programme is to reduce the share capital of Diageo plc. All shares purchased will be cancelled.
https://www.investegate.co.uk/diageo-pl ... 07254406X/