Diageo said it has established a share buy-back programme during the close period preceding its preliminary results announcement on September 1st.
The company said the share buy-back will run between June 24th and September 1st within pre-set parameters, and will be in accordance with its general authority to repurchase shares.
The maximum price paid will be limited to no more than 105 per cent of the average middle market closing price of Diageo shares for the five dealing days preceding the date of purchase.
Diageo will issue a statement in respect of the year ending June 30th, 2005 on July 7th.
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This is the first time that Diageo has established such a programme.