Rolls-Royce Initiates Share Buyback Programme – Quick Facts
Rolls-Royce Holdings plc (RYCEF.PK,RR.L,RYCEY.PK) announced that it has put in place a programme to enable the purchase of its ordinary shares. The first 250 million pounds tranche will be a non-discretionary programme and is irrevocable, when the company is in a prohibited period. The company’s decision follows the completion of the sale of the energy gas turbine and compressor business to Siemens on December 1, 2014 and further to the announcement on 19 June 2014 committing to a 1 billion pounds share buyback.
The aim of the buyback is to reduce the issued share capital of the company, helping enhance returns for shareholders. The shares to be purchased on behalf of the company will either be cancelled or held in treasury.
Source: RTT News – Rolls-Royce Initiates Share Buyback Programme – Quick Facts
