Friday 13th October 2023
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On 31 March 2023 Sky Network Television Limited (Sky) announced an on-market share buyback programme. As contemplated by that announcement, Sky paused purchases under the programme prior to release of its full-year results on 24 August 2023.
Prior to expiry of the black out period during which the buyback programme was paused, Sky received a highly conditional, non-binding preliminary expression of interest from a third party to acquire all of the shares in Sky (NBIO).
Sky has commenced engagement with the potential acquirer, although discussions are at a very early stage. As such, there can be no certainty that any transaction will eventuate. Given it is a highly preliminary, incomplete and confidential proposal, Sky is only disclosing receipt of the NBIO at this time in response to enquiries as to the current status of the buyback programme, and, subject to its continuous disclosure obligations, does not propose to make any further comment at this stage.
In these circumstances, the board has continued the pause in Sky’s share buyback programme since release of the full-year results on 24 August 2023. Sky will confirm any recommencement of the buyback programme in due course.
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