LONDON (dpa-AFX) - NatWest Group plc (NWG.L, NWG), on Monday, announced the commencement of its programme to buyback ordinary shares in the company with a nominal value of £1 each.
On 30 July 2021, NWG announced its half year results and a share buyback programme of up to £750 million. The company noted that the Programme would begin on August 2, 2021 and would end no later than January 18, 2022, provided that the term of the Programme may be extended to end no later than February 1, 2022 to account for certain disruption events during the initial term of the Programme.
The Programmewould be for an aggregate market value equivalent of up to £750 million and would take place within the limitations of the authority granted by shareholders to the Board of NWG at its Annual General Meeting, held on 28 April 2021.
The maximum number of Ordinary Shares that can be purchased by NWG under the Programme is 1,157,583,542.
NWG has entered into non-discretionary instructions with UBS AG, London Branch to conduct the Programme on its behalf and to make trading decisions under the Programme independently of NWG. Further, NWG intends to cancel the repurchased Ordinary Shares.
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