J Sainsbury Launches Share Buyback Of Up To GBP 200 Mln

(RTTNews) - J Sainsbury plc (SBRY.L), a merchandise retail company, on Tuesday has confirmed the launch of a share buyback programme worth up to 200 million pounds.

The programme, which begins on April 22, will be completed by September 12.

According to the company's statement, the programme aims to reduce its share capital, as all repurchased ordinary shares will be cancelled.

The buyback programme will be carried out within the limits approved by the company's board at its annual general meeting on July 4, 2024, which allows for a maximum repurchase of around 239.1 million shares.

J Sainsbury has entered into non-discretionary instructions with BNP Paribas to conduct the Programme.

On Friday, J Sainsbury closed its trading 3.55% higher at 256.80 pence on the London Stock Exchange.