Pershing Square Holdings, Ltd. (LON: PSH) (LON: PSHD) today announced that it will promptly commence a share buyback program of $100,000,000 of PSH’s outstanding Public Shares on the London Stock Exchange and Euronext Amsterdam. The Program is accretive to NAV per share and will reduce PSH’s capital.
PSH is appointing Jefferies International Limited as sole buyback agent for the Program. PSH retains the ability to purchase shares either on an opportunistic basis, and/or based on a trading plan put in place with Jefferies, which will enable the purchase of shares during closed periods.
In accordance with EU regulations, Pershing Square Holdings advises shareholders that (a) the maximum number of shares to be repurchased under the Program is 6,000,000, or approximately 2.8% of PSH’s current outstanding Public Shares, and (b) the Program is expected to last approximately until PSH’s next Annual General Meeting but may be completed prior to this time.