Share repurchase programme 2022/23
SSE plc (‘the Company’) announced on 28 September 2022 that it had instructed both Credit Suisse International ('Credit Suisse') and Morgan Stanley & Co. International plc ('Morgan Stanley') in relation to an irrevocable non-discretionary programme to repurchase its ordinary shares for cancellation (the 'Programme'). This was initiated in light of the Scrip take up of the final dividend for the year ended 31 March 2022 exceeding 25%.
The Programme will not exceed 6,904,083 ordinary shares, and the maximum pecuniary amount allocated to it is £125,000,000. The end date for the Programme will be the earlier of: when one of the aforementioned parameters are achieved; or 31 December 2022. The first half of the Programme will be executed by Credit Suisse and the second half will be executed by Morgan Stanley.
Any share purchases under the Programme will be effected within certain pre-set parameters, and in accordance with the Company's share buyback authority granted by shareholders at the Company's Annual General Meeting on 21 July 2022, the Market Abuse Regulation (596/2014) and Chapter 12 of the UK Listing Rules.
In accordance with Article 5 (1)(b) of the Market Abuse Regulation (596/2014), a summary of all share repurchase transactions are available below.
The Programme was completed on 2 December 2022.