Standard Chartered PLC announces that it will commence buying-back ordinary shares of US$0.50 each for up to a maximum aggregate amount of US$1 billion. The purpose of the buy-back is to reduce the Group’s outstanding ordinary shares.
The Group has entered into a non-discretionary agreement with J.P. Morgan Securities plc (“JPMS plc”) to enable the purchase of Ordinary Shares by JPMS plc, acting as principal, during the period running from 27 February 2024 until and including 23 August 2024, for an aggregate purchase price of up to, but no greater than, US$1 billion and the on-sale of such Ordinary Shares by JPMS plc to the Group.
The maximum number of Ordinary Shares that can be purchased under the Buy-back is 250,000,000 Ordinary Shares. JPMS plc will make their trading decisions in relation to the Ordinary Shares independently of the Group.
