Haleon plc commences an Equity Buyback Plan for 913,000,000 shares, representing 10% of its issued share capital, under the authorization approved on May 8, 2024.
August 02, 2024 at 06:41 pm
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Haleon plc (LSE:HLN) commences share repurchases on August 2, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 8, 2024. As per the mandate, the company will repurchase up to 913,000,000 shares, representing 10% of it's outstanding shares. The shares will be repurchased at the minimum price which may be paid for each such share is the nominal value of such share and the maximum price which may be paid for each such share is the higher of an amount equal to 5% above the average of the middle market quotations for an ordinary share as derived from the Daily Official List of the London Stock Exchange for the five business days immediately preceding the day on which the relevant share is purchased and the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venues where the purchase is carried out. Any shares purchased may be held as treasury shares with a view to possible re-issue at a future date, be used to satisfy awards under share incentive arrangements or cancelled. The repurchase authorization will expire at the conclusion of the next annual general meeting of the Company, or June 30, 2025. As of April 3, 2024, the company had 9,132,301,104 shares in issue.
On August 1, 2024, the company announced a share repurchase program. Under the program, the company will repurchase £185 million worth of shares. The purpose of the Buyback program is to reduce share capital and is in line with the Company's capital allocation priorities. All Shares purchased by the Company under the Buyback program will be cancelled. The Buyback program commences today and will end no later than December 31, 2024.
Haleon plc specializes in the research, manufacture and marketing of drugs and consumer pharmaceutical products. Net sales break down by family of products as follows:
- oral health products (27.7%; no. 1 worldwide): Sensodyne, Parodontax, Polident, Biotene, Aquafresh brands, etc.;
- Pain relief medicines (23.5%; no. 1 worldwide): Panadol, Advil, Voltaren, Excedrin brands, etc.;
- medicines for digestive health (18.9%; no. 1 worldwide): TUMS, Nicorette, ENO, Chap Stick, Fenistil, Nexium brands, etc.;
- respiratory medicines (15.4%; no. 1 worldwide): Theraflu, Otrivin, Flonase, Contac brands, etc.;
- vitamins, minerals and food supplements (14.5%; no. 1 worldwide): Centrum, Emergen-C, Caltrate brands, etc.
Net sales are distributed geographically as follows: Europe/Middle East/Africa/Latin America (40.2%), North America (37.1%), and Asia/Pacific (22.7%).
Haleon plc commences an Equity Buyback Plan for 913,000,000 shares, representing 10% of its issued share capital, under the authorization approved on May 8, 2024.
HALEON PLC 
