a8153e
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
01 November 2022
Commission File Number: 001-10691
DIAGEO plc
(Translation
of registrant’s name into English)
16 Great Marlborough Street, London, United Kingdom, W1F 7HS
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F X
Form
40-F
Indicate
by check mark whether the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule
101(b)(1):
Indicate
by check mark whether the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule
101(b)(7):
1 November 2022
Diageo announces next phase of return of capital
programme
Diageo plc (Diageo) today announces that it is commencing the
fourth, and final, phase of its previously announced return of
capital (ROC) programme of up to £4.5 billion to shareholders
to be completed during fiscal 23.
Under the first three phases of the ROC programme, which were
completed on 31 January 2020, 11 February 2022 and 5 October
2022 respectively, Diageo repurchased shares with an aggregate
value of approximately £3.86 billion.
Diageo is announcing today that it has entered into a
non-discretionary agreement with Merrill Lynch International (MLI)
to enable the company to buy back shares with an aggregate value of
up to approximately £0.64 billion (net of any fees
payable to or by MLI under the terms of the agreement). This
agreement will commence on 1 November 2022 and will end no later
than 24 February 2023. The purpose of the repurchases is to reduce
the share capital of Diageo and all shares repurchased under this
agreement will be cancelled.
Further details of the return of capital programme
MLI will make its trading decisions in relation to Diageo's
securities independently of and uninfluenced by Diageo. Any
repurchase of shares by Diageo contemplated by this announcement
will be carried out on the London Stock Exchange and/or other
recognised investment exchange(s).
The share buybacks will be effected within certain pre-set
parameters and in accordance with Diageo's general authority to
repurchase shares and will be conducted within the parameters
prescribed by the Market Abuse Regulation 596/2014, the Commission
Delegated Regulation (EU) 2016/1052 (both as incorporated into UK
domestic law by the European Union (Withdrawal) Act 2018) and, in
the case of Diageo, Chapter 12 of the Listing Rules.
This phase of the ROC programme, under which up to approximately
£0.64 billion of shares will be repurchased, will occur within
the limitations of Diageo's existing general authority to
repurchase up to 227,870,414 shares granted at its 2022 Annual
General Meeting. For the avoidance of doubt, no repurchases will be
made in the United States of America or in respect of Diageo's
American Depositary Receipts.
For further information please contact:
Investor relations:
Durga Doraisamy +44
(0) 7902 126 906
Andy
Ryan
+44 (0) 7803 854 842
Lucinda
Baker
+44 (0) 7974 375 550
investor.relations@diageo.com
Media relations:
Global Press
Office
+44 (0) 7803 856 200
press@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an outstanding
collection of brands across spirits and beer categories. These
brands include Johnnie Walker, Crown Royal, J&B and Buchanan's
whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain
Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a global company, and our products are sold in more than
180 countries around the world. The company is listed on both the
London Stock Exchange (DGE) and the New York Stock Exchange (DEO).
For more information about Diageo, our people, our brands, and
performance, visit us at www.diageo.com.
Visit Diageo's global responsible drinking
resource, www.DRINKiQ.com for
information, initiatives, and ways to share best
practice.
Celebrating life, every day, everywhere.
Diageo plc LEI: 213800ZVIELEA55JMJ32
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Diageo plc
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(Registrant)
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Date:
01 November 2022
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By:___/s/
James Edmunds
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James Edmunds
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Deputy Company Secretary
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