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27 May 2025 07:02:30
- Source: Sharecast
27 May 2025
IMI plc
LEI: 2138002W9Q21PF751R30
Share repurchase programme
IMI plc (the Company) announces that, in connection with the share buyback programme of up to £200 million which it announced on 28 February 2025 (the Programme), it has now entered into a non-discretionary agreement with J.P. Morgan Securities plc (JPMS plc) to manage the remainder of the Programme. The purpose of the Programme is to reduce the share capital of the Company.
Pursuant to the Programme, JPMS plc will purchase shares with a value of up to £100 million, acting as a riskless principal (and not as an agent of the Company). The maximum number of shares that can be repurchased in connection with the Programme is 25,641,826 (being the maximum authority granted by the Company's shareholders at its AGM on 8 May 2025), as reduced by the Company's share repurchase activity within that authority to date. Shares purchased pursuant to the Programme will be cancelled. It is expected that purchases pursuant to the Programme will continue no later than 30 September 2025.
Enquiries to:
|
Fran Burge, Deputy Company Secretary |
IMI |
Tel: +44 (0)121 717 3780 |
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