Barclays Commences 1-bln-pound Share Buyback

Barclays PLC (BARC) on Tuesday announced the commencement of its share buy-back program to purchase ordinary shares of 25 pence, aggregating to a maximum consideration of 1,000 million pounds.

The maximum number of shares that may be repurchased is approx. 1.7 billion and the program would end no later than 30 September 2022.

As the purpose of the buy-back is to reduce the share capital of the company, the ordinary shares purchased under the buy-back would be cancelled.

Barclays has entered into an irrevocable, non-discretionary agreement with J.P. Morgan Securities plc to conduct the buyback on its behalf

No repurchases would be made in the United States or in respect of the company's American Depositary Receipts.

Shares of Barclays closed Monday's trading at $8.10, up $0.31 or 3.98 percent from the previous close.

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