22 November 2024
J Sainsbury plc
(the 'Company')
Commencement of Second Tranche of Share Buyback Programme
On 26 April 2024, the Company announced the commencement of a share buyback programme of up to £200 million, to be completed by the end of this financial year, 1 March 2025.
On 15 October 2024, the Company announced the completion of the first £150 million tranche of the £200 million programme. A total of 54,797,296 ordinary J Sainsbury plc shares ("Shares") were purchased in the first tranche for cancellation.
Today, the Company is pleased to announce the commencement of the second tranche of the share buyback programme (the "Programme") for a maximum aggregate market value equivalent to £50 million which will be bought back in the form of Shares. The sole purpose of the Programme is to reduce the Company's share capital.
The Company has entered into non-discretionary instructions with UBS AG London Branch to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company. The Programme commences on 22 November 2024 and can run up to and including 24 February 2025.
The Programme will take place within the limitations of the authority granted to the Board of the Company by its annual general meeting, held on 4 July 2024, pursuant to which the maximum number of shares to be bought back by the Company is 239,100,500.
Enquiries
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| James Collins | Rebecca Reilly |
| +44 (0) 7801 813 074 | +44 (0) 20 7695 7295 |
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