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Kennedy Wilson Europe Real Estate launches £100m share buyback programme

Kennedy Wilson Europe Real Estate has announced that it is launching a share buyback programme. The company says that the programme will involve the immediate launch of on-market purchases of ordinary shares in the Company, for a maximum aggregate purchase price of £100 million, and shares bought back under the programme will be cancelled.

The Company says that it will enter into an irrevocable and non-discretionary arrangement with J&E Davy to manage the share buyback programme during its closed period, commencing 5 October 2016, and that the buyback of shares during the closed period will be made in accordance with certain pre-agreed parameters. Mary Ricks, President and CEO of Kennedy Wilson Europe, says that the programme is part of their ongoing commitment to balance sheet management and capital efficiency, while leaving sufficient liquidity to capitalise on potential future market opportunities. The Company says that it retains the discretion to suspend the programme at any time other than during a closed period.

Kennedy Wilson Europe Real Estate launches £100m share buyback programme : KWE

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