LONDON (dpa-AFX) - Royal Mail plc (RMG.L), on Thursday, announced that it has entered into a non-discretionary agreement with Merrill Lynch International or MLI in relation to the purchase by MLI, acting as riskless principal, of Royal Mail's ordinary shares of one penny each for an aggregate purchase price of up to £200 million.
The company noted that the ordinary shares acquired by MLI under this non-discretionary agreement would be simultaneously on-sold by MLI to Royal Mail. The agreement would commence on 18 November 2021 and end no later than 19 July 2022. The purpose of the Programme is to reduce the share capital of Royal Mail, the company said.
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