On April 3rd, Imperial Brands PLC announced that it has instructed Barclays Bank Capital Securities Limited ("Barclays Bank") to purchase company shares amounting to no more than £500 million. This is part of the stock buyback plan announced by the company on October 6th, 2022.
The purpose of share buyback is to decrease the capital of the company, and all repurchased shares will be cancelled. The second batch of share buyback plan for the company is set to begin on April 3, 2023, and is scheduled to end no later than September 29, 2023.
Currently, the maximum number of shares that the company can buy back is 94.2 million shares minus the shares that have already been repurchased. The overall share repurchase plan accounts for 5.5% of its total issued shares.
On April 4th, Imperial Tobacco issued a press release outlining details of their share buyback program.
Stock disclosure: Imperial Brand Company - each share has a face value of 10 pence.
Buyback shares: 200,000.
Trade Date: April 3rd, 2023
The average price paid per share is £1,899.8560.
The minimum payment for each share is £1,879.0000.
The highest possible price per share is 1,914.0000 pounds sterling.
Brokerage Firm: Barclays Bank Capital Securities Limited ("Barclays Bank")
Our company intends to cancel those shares.
After purchasing, settling, and canceling these shares, the remaining issued ordinary shares will be 925,834,003 (excluding treasury shares).
References:
1. Share buyback transaction.
2. Total Voting Rights - This section pertains to the total number of voting rights that are available for a particular election or decision-making process.
The second installment of a share buyback program worth up to £500m.
Imperial has decided to implement a share-repurchase program worth $1.24 billion.
Disclaimer
This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.
Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.
The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.
This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.
Copyright Notice
This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.
No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.
For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.
AI-Assisted Translation and Editing Notice
Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.
Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.
