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LONDON - Standard Chartered (OTC:SCBFF) PLC has announced a share buy-back program to purchase up to $1.5 billion of its ordinary shares starting Tuesday. The move aims to reduce the bank’s share capital, following a non-discretionary agreement with J.P. Morgan Securities plc.
The buy-back period is set from February 25, 2025, to August 21, 2025, with the stipulation that the activity will not exceed regulatory limits or Standard Chartered’s general authority to repurchase shares as granted by shareholders. The maximum number of ordinary shares that may be repurchased under the program is capped at 250 million.
J.P. Morgan Securities plc will conduct the buy-back independently of Standard Chartered, making trading decisions on the London Stock Exchange (LON:LSEG) and Cboe Europe, among other UK recognized investment exchanges. The arrangement is structured to ensure that purchases adhere to the pre-established parameters and comply with relevant regulations, including the Financial Conduct Authority’s Listing Rules and EU market abuse regulations as incorporated into UK law.
Shares acquired through the buy-back will be cancelled, as Standard Chartered seeks to streamline its capital structure. This announcement follows the company’s previous communication on February 21, 2025, regarding its intention to initiate the share repurchase.
The buy-back plan is subject to no regulatory objections or concerns arising during the specified period. The information disclosed is based on a press release statement from Standard Chartered PLC.
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