Unilever PLC Commences Share Buyback Program Of Up To EUR 1.5 Bln

(RTTNews) - Consumer goods major Unilever Plc (ULVR.L, UL) announced Friday the commencement of its share buyback program for up to 1.5 billion euros.

The program to buy back shares were announced in February along with its fiscal 2023 results.

The first tranche of the Program will be for an aggregate market value equivalent of up to 850 million euros, which will be bought back in the form of Unilever PLC ordinary shares.

It will commence today and will end on or before August 30. With the First Tranche, the company plans to reduce the capital of Unilever PLC. It will take place within the limitations of the authority granted to the Board of Unilever PLC by its general meeting, held on May 1, pursuant to which the maximum number of shares to be bought back by Unilever PLC is 250.20 million.

Unilever said it has entered into non-discretionary instructions with Goldman Sachs International to conduct the First Tranche on its behalf and to make trading decisions.