U.K.-headquartered tobacco business Imperial Brands PLC (IMB.L) on Thursday announced the commencement of the second tranche of share buyback to repurchase up to 625 million pounds of its shares commencing on May 1 and ending no later than October 29.
The purpose of the share buyback is to deliver a material reduction in the capital base over time.
The Company has entered into an irrevocable and non-discretionary arrangement with Barclays Capital Securities Limited for the purpose.
The company had announced in October 2024, that it was planning to repurchase up to 1.25 billion pounds of shares in the period to October 29, 2025.
The first 625 million pound tranche of the current share repurchase programme has been completed.
The maximum number of shares that may be repurchased under the Programme is 83.85 million shares, less shares already repurchased since the date of the Company's 2025 Annual General Meeting.
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