Share Buyback Programme
On 13 April 2022, Tesco PLC committed to buyback an additional £750m worth of shares by April 2023. This means that by April 2023 Tesco PLC will have bought back a cumulative £1.05bn worth of shares since the start of the programme announced in October 2021.
The share buyback programme will take place in accordance with the Company's current buyback authority granted by shareholders at the Company's 2022 Annual General Meeting. The maximum number of ordinary shares that may be repurchased under that authority is 761,988,392.
The sole purpose of these share purchases is to reduce the Company's share capital and therefore ordinary shares purchased under the buyback will be cancelled.
All share purchases will be made on Tesco PLC’s behalf under the terms of a non-discretionary arrangement, which includes the ability to make trading decisions under the programme independently of Tesco PLC.
An announcement will be made at the start of each tranche of the programme which can be viewed here.
A breakdown of the daily transaction details can be found here and is updated weekly during the buyback programme. The daily transaction announcements are also available here.