LONDON - Tate & Lyle PLC (OTC:TATYY), a global provider of food and beverage ingredients, has announced the completion of its £215 million share buyback program. The program, which was initially disclosed on June 19, 2024, involved the repurchase of 31,294,579 ordinary shares at an aggregate market value of £214,989,726.
Following the completion of the buyback, the number of ordinary shares in issue for the company stands at 445,429,642, excluding treasury shares. The buyback is part of the company's capital allocation strategy and reflects its commitment to delivering value to shareholders.
Tate & Lyle (LON:TATE), with a heritage spanning over 165 years, specializes in developing ingredients that enhance taste and nutrition in food and beverages. The company's recent acquisition of CP Kelco, a leader in nature-based ingredients, has expanded its capabilities in providing texture and stability solutions.
The company has a significant global presence, with more than 5,000 employees operating in around 75 locations across 39 countries, serving customers in over 120 countries. Tate & Lyle is listed on the London Stock Exchange (LON:LSEG) (LSE:TATE) and also trades in the United States as American Depositary Receipts (OTC:TATYY).
For the fiscal year ended March 31, 2024, Tate & Lyle reported pro forma revenue of £2.25 billion, assuming the CP Kelco acquisition occurred on April 1, 2023. The company's focus on science and innovation aims to support healthy living, thriving communities, and environmental care.
This announcement is based on a press release statement and reflects the company's recent financial activities concerning its share capital.
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