A.G. BARR p.l.c. commences an Equity Buyback Plan for 11,380,464 shares, representing 10% of its issued share capital, under the authorization approved on May 31, 2019.
July 24, 2019 at 02:00 am EDT
Share
A.G. BARR p.l.c. (LSE:BAG) commences share repurchases on July 23, 2019, under the program mandated by the shareholders in the Annual General Meeting held on May 31, 2019. As per the mandate, the company is authorized to repurchase up to 11,380,464 shares, representing 10% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 5% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange plc Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The shares repurchases will be funded from distributable profits of the company. The repurchased shares shall be canceled or held as treasury shares. The authority will expire earliest of the conclusion of Annual General Meeting held on 2020, or July 31, 2020. As of April 10, 2019, the company had 113,804,643 ordinary shares in issue and no shares in treasury.
A.G. Barr p.l.c. is a United Kingdom-based company that is engaged in branded multi beverage business. The Company is a brand owners and builders, offering a diverse and differentiated portfolio of brands. It operates through three segments: Soft drinks, Cocktail solutions and Other. The Soft drinks segment comprises two business units: Barr Soft Drinks and Boost Drinks. Barr Soft Drinks includes various brands such as IRN-BRU, Bundaberg, Barr Flavours, KA, DâNâB, OMJ!, Rubicon, Simply Fruity, Rubicon RAW, Strathmore, Snapple, Sun Exoti, and Tizer. Boost Drinks portfolio includes energy, sport, iced coffee, protein and including the franchise brand, Rio. The Cocktail solutions segment consists of pre-mixed cocktails, syrups, mixers and purees. The Other segment represents its MOMA business unit, comprising oat milk drinks and other oat-based products. Its products include IRN-BRU Energy, Cream Soda, Passion Fruit Martini Nitro Can, Citric Syrup and Mojito Mixer.
A.G. BARR p.l.c. commences an Equity Buyback Plan for 11,380,464 shares, representing 10% of its issued share capital, under the authorization approved on May 31, 2019.