GSK To Buy Back Up To GBP 0.45 Bln Shares In Second Tranche Of GBP 2 Bln Programme

(RTTNews) - British drugmaker GSK plc (GSK, GSK.L) announced Wednesday the commencement of the second tranche of its previously announced 2 billion pounds share buyback programme, to buy up to 0.45 billion pounds in shares.

The Second Tranche will commence on June 4 and run through September 19.

Under the share buyback programme, which was announced along with its fiscal 2024 results in early February, the first tranche of the Programme of up to 0.7 billion pounds was commenced on February 24 and completed on June 3.

The 2 billion pounds Programme is to be implemented over the period to the end of the second quarter of fiscal 2026.

GSK said it has entered into a non-discretionary deal with Merrill Lynch International, enabling the company to buy back ordinary shares of 311/4 pence each in GSK with an aggregate value of up to 0.45 billion pounds.

With the buyback, the company aims to return excess capital to shareholders and reduce the share capital of the company. It is also expected that the implementation of the Programme will enhance earnings per share.