Unilever PLC announces the commencement of the second tranche of its programme to buy back shares with an aggregate market value equivalent of up to €3 billion.
On 29 April 2021, Unilever PLC announced its first quarter results and a share buyback programme of up to €3 billion to be completed by the end of this year.
The first tranche of this buyback programme (the "Initial Programme") began on 6 May 2021 and completed on 13 August 2021.
Unilever PLC today announces the second tranche of the programme which will commence on 23 August 2021 and complete on or prior to 31 December 2021 (the "Second Tranche"). This Second Tranche will be to buy back Unilever PLC ordinary shares with a total market value of up to €1.5bn. The Second Tranche, the purpose of which is to reduce the capital of Unilever PLC, will take place within the limitations of the authority granted to the Board of Unilever PLC by its general meeting, held on 5th May 2021, pursuant to which the maximum number of shares to be bought back by Unilever PLC is 262,811,000. After taking into account the number of shares bought back under the Initial Programme, the maximum number of shares that can be bought back under the Second Tranche is 232,343,270.
Unilever PLC has entered into non-discretionary instructions with UBS AG, London Branch to conduct the Second Tranche on its behalf and to make trading decisions under the Second Tranche independently of Unilever PLC.
https://www.investegate.co.uk/unilever- ... 00003638J/