Reckitt Benckiser Commences Initial Tranche Of GBP 250 Mln In GBP 1 Bln Share Buyback Program

(RTTNews) - British consumer goods major Reckitt Benckiser Group Plc (RBGPF.PK, RB.L) announced Friday that it has initiated the first tranche of its previously announced 1 billion pounds share buyback programme, which will return up to 250 million pounds of capital to shareholders.

The purpose of the Programme is to reduce the share capital.

In the program, the company will purchase no more than 63 milllion Ordinary Shares. The first tranche of the Programme will commence on July 26 and is expected to end no later than October 31.

Reckitt has entered into an agreement with J.P. Morgan Securities plc to manage the first tranche of the Programme.