23rd Jun 2005 07:00
Diageo PLC23 June 2005 23 June 2005 Diageo establishes programme to enable the buy back of shares in up coming closeperiod DIAGEO plc has put in place an irrevocable, non-discretionary programme allowingthe company to buy back shares during the close period which precedes thepreliminary results announcement on 1 September 2005. This is the first timethat Diageo has established such a programme. Share buy backs will be effected during the period between 24 June 2005 and 1September 2005 within pre-set parameters. The buy backs will be in accordancewith Diageo's general authority to repurchase shares and in accordance with bothChapter 15 of the current Listing Rules and Chapter 12 of the proposed newListing Rules that will come into effect on 1 July 2005. Consequently themaximum price paid will be limited to no more than 105 per cent of the averagemiddle market closing price of Diageo shares for the 5 dealing days precedingthe date of purchase. The shares repurchased will be held as Treasury shares. In announcing this Diageo confirms that currently it has no unpublished pricesensitive information. As in previous years Diageo will issue a statement inrespect of the year ending 30 June 2005 on 7 July and will announce preliminaryresults for the year on 1 September 2005. Diageo has noted that Moody's andStandard and Poors have issued credit ratings in respect of a proposedrefinancing of Burger King Corporation (BKC) debt. Diageo holds $212.5 millionof subordinated loan in BKC and provides a guarantee in respect of $750 millionof senior debt and $100 million of revolving credit facilities. Any refinancingof BKC would lead to the termination of Diageo's guarantee and the repayment ofthe subordinated loan together with accrued interest. ENDS Contacts: Investor Relations: Michael Mulhall +44(0) 207 927 4471 [email protected] Media Enquiries: Isabelle Thomas +44 (0)20 7927 5967 [email protected] Notes to editor: Diageo is the world's leading premium drinks business. With its global vision,and local marketing focus, Diageo brings to consumers an outstanding collectionof beverage alcohol brands across the spirits, wine and beer categoriesincluding Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Cuervo, CaptainMorgan and Tanqueray, and Beaulieu Vineyard and Sterling Vineyards wines. Diageotrades in some 180 markets around the world and is listed on both the New YorkStock Exchange (DEO) and the London Stock Exchange (DGE). For more informationabout Diageo, its people, brands and performance, visit us at www.diageo.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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