WPP - WPP announces share buyback program

WPP (WPP -5.3%) has announced a share buyback program to help reduce its share capital. The communications company entered into a non-discretionary agreement with Goldman Sachs International (GSI), pursuant to which the latter will purchase WPP's ordinary shares of 10 pence each for an aggregate purchase price of up to £300M. The shares acquired will be simultaneously on-sold by GSI to WPP. The purchase will take place during Mar. 24, 2022 to June 24 2022. WPP was authorized to purchase up to a maximum of 121,258,871 ordinary shares during its 2021 Annual General Meeting held on 9 June 2021, subject to certain limitations, and a resolution to renew this authority is expected to be put to WPP's 2022 Annual General Meeting in the ordinary course. The aggregate number of shares acquired by the company pursuant to the buyback program shall not exceed the maximum number of shares which the company

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WPP announces share buyback program