STANDARD CHARTERED PLC
31 JULY 2024
SHARE BUY-BACK
Standard Chartered PLC (the "SC") announces that, as noted in its
announcement on 30 July 2024, it will commence buying-back ordinary
shares of US$0.50 each (the "Ordinary Shares") for up to a maximum
aggregate amount of US$1,500,000,000 (the "Buy-back"). The purpose of the Buy-back
is to reduce SC's share capital.
SC has entered into a non-discretionary
agreement with Goldman Sachs International ("GS") to enable the purchase of Ordinary
Shares by GS, acting as principal, during the period running from 1
August 2024 until and including 30 January 2025
(subject to no regulatory objections or concerns arising),
for an aggregate purchase price of up to, but no greater than,
US$1,500,000,000 and the on-sale of such Ordinary Shares by GS to
SC.
The maximum number of Ordinary Shares that can
be purchased under the Buy-back is 228,843,817
Ordinary Shares (save that any purchases shall not exceed the
amount that represents SC's available general authority to purchase
Ordinary Shares as granted by its shareholders at its 2024 annual
general meeting). GS will make their trading decisions in relation
to the Ordinary Shares independently of SC.
Any purchases of Ordinary Shares will be
carried out on the London Stock Exchange and/or Cboe Europe
(through the BXE and CXE order books), and/or any other UK
recognised investment exchange which may be agreed, in accordance
with pre-set parameters and in accordance with (and subject to
limits prescribed by) SC's general authority to repurchase Ordinary
Shares as granted by its shareholders at its 2024 annual general
meeting, Chapter 12 of the Financial Conduct Authority's Listing
Rules, Article 5(1) of Regulation (EU) No. 596/2014 (as
incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018), Commission Delegated Regulation (EU)
2016/1052 (as incorporated into UK domestic law by the European
Union (Withdrawal) Act 2018), the Rules Governing the Listing of
Securities on the Stock Exchange of Hong Kong Limited and the Hong
Kong Codes on Takeovers and Mergers and Share Buy-Backs. For the
avoidance of doubt, no purchases of Ordinary Shares will be carried
out on the Stock Exchange of Hong Kong. Ordinary Shares purchased
under the Buy-back will be cancelled.
For further information, please
contact:
Manus Costello, Group Head,
Investor
Relations:
+44 (0) 20 7885 0017
Shaun Gamble, Director, Group Media
Relations:
+44 (0) 20 7885 5934