12th Dec 2007 17:44
Diageo PLC12 December 2007 12 December 2007 Diageo puts in place programme to enable the buy back of shares in forthcomingclosed period DIAGEO plc announces that it has put in place an irrevocable, non-discretionaryprogramme to allow the company to buy back shares during the closed period whichprecedes the interim results announcement on 14 February 2008. The buy-backprogramme during the closed period will be managed by an independent thirdparty, which will make its trading decisions in relation to the company'ssecurities independently of, and uninfluenced by, the company. Share buy backs will be effected during the period between 2 January 2008 and 14February 2008 within pre-set parameters. The buy backs will be in accordancewith Diageo's general authority to repurchase shares and in accordance withChapter 12 of the Listing Rules. Consequently the maximum price per Share shallbe no more than the higher of (i) an amount equal to 105% of the average of themiddle market quotations for a Share (as derived from the London Stock ExchangeDaily Official List) for the 5 days when the London Stock Exchange is open fordealing immediately preceding the day on which the Share is contracted to bepurchased and (ii) the higher of the price of the last independent trade and thehighest current independent bid on the London Stock Exchange official list atthe time the purchase is carried out. The shares repurchased will be cancelledon a daily basis. In announcing this Diageo confirms that currently it has no inside information.Diageo will announce interim results for the six months ending 31 December 2007on 14 February 2008. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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