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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
08
September 2017
Commission File Number: 001-10691
DIAGEO plc
(Translation
of registrant’s name into English)
Lakeside Drive, Park Royal, London NW10 7HQ
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F X
Form
40-F
Indicate
by check mark whether the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule
101(b)(1):
Indicate
by check mark whether the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule
101(b)(7):
8 September 2017
Diageo plc share repurchase programme
On 26
July 2017, the Board of Diageo plc approved a share buy-back
programme to return up to £1.5 billion to shareholders during
the fiscal year ending 30 June 2018.
Today,
Diageo announces that it has entered into a non-discretionary
agreement with Morgan Stanley & Co. International Plc
("Morgan Stanley") to enable
the company to buy back shares. This current agreement will
commence 8 September 2017 and is expected to end no later than 31
March 2018 for an aggregate maximum consideration of up to
£1.5 billion.
Morgan
Stanley will make its trading decisions in relation to the
company's securities independently of, and uninfluenced by, the
company. Any purchase of shares by Diageo contemplated by
this announcement will be carried out on the London Stock
Exchange.
The
purpose of the buy-back programme is to reduce the share capital of
Diageo plc. All shares purchased will be cancelled. The
buy backs will be effected within certain pre-set parameters and in
accordance with Diageo's general authority to repurchase shares,
and will be conducted within the parameters prescribed by the
Market Abuse Regulation 596/2014, the Commission Delegated
Regulation (EU) 2016/1052 and, in the case of Diageo plc, Chapter
12 of the Listing Rules.
The
share buy-back programme of up to £1.5 billion will fall
within the maximum number of shares that may be repurchased
pursuant to Diageo's existing general authority from shareholders
to repurchase up to a maximum of 251,781,000 shares granted at its
2016 annual general meeting. A renewed general authority to
repurchase up to a maximum of 251,773,000 shares is being sought at
Diageo's forthcoming annual general meeting on 20 September
2017.
For further information
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Media relations:
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Bianca Agius
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+44 (0) 208 978 1450
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press@diageo.com
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Investor relations:
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Andy Ryan
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+44 (0) 208 978 6504
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investor.relations@diageo.com
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About Diageo
Diageo
is a global leader in beverage alcohol with an outstanding
collection of brands including Johnnie Walker, Crown Royal, JeB,
Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One
vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and
Guinness.
Diageo
is a global company, and our products are sold in more than 180
countries around the world. The company is listed on both the
London Stock Exchange (DGE) and the New York Stock Exchange (DEO).
For more information about Diageo, our people, our brands, and
performance, visit us at www.diageo.com.
Visit Diageo's global responsible drinking resource, www.DRINKiQ.com,
for information, initiatives, and ways to share best
practice.
Celebrating
life, every day, everywhere.
ENDS
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Diageo
plc
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(Registrant)
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Date: 08
September 2017
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By:
/s/John Nicholls
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Name:
John Nicholls
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Title:
Deputy Company Secretary
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