30th Dec 2016 13:48
Schroders plc
Share buy-back programme
Schroders plc (the "Company") announces that it is commencing a non-discretionary share buy-back programme to repurchase a maximum of 233,623 of its non-voting ordinary shares during its closed period which commences on 3 January 2017 and ends on 1 March 2017. The purpose of the buy-back programme is to reduce the capital of the Company following the issue of non-voting ordinary shares announced on 20 December 2016. The Company has entered into an agreement with J.P. Morgan Securities plc ("JPMS plc") under which it has issued an irrevocable instruction to JPMS plc to manage the share buy-back programme in accordance with agreed parameters. JPMS plc will carry out the instruction through the acquisition of non-voting ordinary shares in the Company for subsequent repurchase by the Company. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.
For further information please contact:
Alex James | Investor Relations | +44 (0) 20 7658 4308 | |
Beth Saint | Head of Communications | +44 (0) 20 7658 6168 | |
Graham Staples | Company Secretary | +44 (0) 20 7658 6742 |
Related Shares:
Schroders