HSBC Holdings PLC Share buy-back (0525I)
August 06 2019 - 2:00AM
UK Regulatory
TIDMHSBA
RNS Number : 0525I
HSBC Holdings PLC
06 August 2019
HSBC HOLDINGS PLC SHARE BUY-BACK
HSBC Holdings plc ('HSBC') announces that, as outlined in its
announcement on 5 August 2019, it will commence a share buy-back of
HSBC's ordinary shares of US$0.50 each ('Ordinary Shares') for up
to a maximum consideration of US$1,000,000,000 (the 'Buy-back').
The purpose of the Buy-back is to reduce HSBC's outstanding
Ordinary Shares.
HSBC has entered into an irrevocable, non-discretionary
agreement (the 'Agreement') with Morgan Stanley & Co.
International plc ('Morgan Stanley') to enable the purchase of
Ordinary Shares by Morgan Stanley acting as principal, during the
period running from 6 August 2019 and ending no later than 18
October 2019 (subject to regulatory approval remaining in place),
for an aggregate purchase price of no greater than US$1,000,000,000
and the simultaneous on-sale of such Ordinary Shares by Morgan
Stanley to HSBC.
Any purchases of Ordinary Shares will be carried out on the
London Stock Exchange in accordance with certain pre-set parameters
and in accordance with (and subject to limits prescribed by) HSBC's
general authority to repurchase Ordinary Shares granted by its
shareholders at the annual general meeting on 12 April 2019 (the
'2019 Authority'), Chapter 12 of the Financial Conduct Authority's
Listing Rules, Article 5(1) of the Market Abuse Regulation (EU) No
596/2014, the Commission Delegated Regulation (EU) No 2016/1052,
the Rules Governing the Listing of Securities on The Stock Exchange
of Hong Kong Limited, the Hong Kong Codes on Takeovers and Mergers
and Share Buy-Backs and applicable US federal securities laws.
Ordinary Shares purchased under the Buy-back will be cancelled.
The maximum number of Ordinary Shares that may be repurchased
under the Buy-back is 2,003,673,053, being the number of Ordinary
Shares able to be repurchased under the 2019 Authority.
Investor enquiries to:
Richard O'Connor +44 (0) 20 7991 6590
investorrelations@hsbc.com
Media enquiries to:
Heidi Ashley +44 (0) 20 7992 2045 heidi.ashley@hsbc.com
Note to editors:
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. The HSBC Group serves customers worldwide
across 65 countries and territories in Europe, Asia, North America,
Latin America, and Middle East and North Africa. With assets of
US$2,751bn at 30 June 2019, HSBC is one of the world's largest
banking and financial services organisations.
ends/all
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END
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