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Standard Life Aberdeen plc   -  SLA   

Share Repurchase Programme

Released 11:04 20-Nov-2018

RNS Number : 9096H
Standard Life Aberdeen plc
20 November 2018
 

Standard Life Aberdeen plc ("the Company")

  

Share Repurchase Programme

At the Company's General Meeting on 25 June 2018, shareholders approved the return of up to £1.75bn in aggregate to shareholders, subject to necessary regulatory approvals. This included a return of capital of £1bn via a B Share Scheme - which completed on 22 October 2018 - and a return of up to £750m by a share buyback programme.

 

On 9 August 2018 the Company announced the commencement of the first tranche of £175m of the share buyback programme.  This has now completed and resulted in the repurchase, and cancellation, of 58,686,389 ordinary shares for a total consideration of £174,999,998.

 

The Company today announces that it will commence a further tranche of £200m of the share repurchase programme of the Company's ordinary shares (the "Programme").

 

On 19 November 2018, the Company entered into a non-discretionary instruction with Goldman Sachs International ("Goldman Sachs") in relation to the purchase by Goldman Sachs, acting as principal, of ordinary shares in the Company's share capital (the "Shares") for an aggregate consideration of no greater than £200m. The purchase of Shares will take place during the period commencing on 20 November 2018 and ending no later than 27 March 2019.


Any purchase of Shares done in relation to this announcement will be carried out on the London Stock Exchange and executed in accordance with the Listing Rules and the Company's authority to make market purchases of Shares. The Company will announce any market repurchase of Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. The purpose of the Programme is to reduce the share capital of the Company. All Shares purchased will be cancelled.

 

 

20 November 2018

 

 

Enquiries:

 

Institutional Equity Investors

Jakub Rosochowski

 

 

Neil Longair

 

 

+44 (0) 131 245 8028*

+44 (0) 7515 298 608


+44 (0) 131 245 6466*

+44 (0) 7711 357 595

Media

Steve Hartley

 

+44 (0) 131 245 1365*

+44 (0) 7936 334 880

 

Group Secretariat

Paul McKenna

 

+44 (0) 131 245 1168*

 

 

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

 

LEI: OTMBS544NMO7GLCE7H90


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Share Repurchase Programme - RNS