Diageo plc will issue a trading statement on the 28 June 2007 with respect to the fiscal year ending 30 June 2007. As a result, it will enter a closed period which begins on 19 June and ends at the close of business on 30 August 2007 following the preliminary results announcement. Diageo has put in place an irrevocable, non-discretionary programme to allow the company to buy back shares during the closed period. The buy back programme during the closed period will be managed by an independent third party, which will make its trading decisions in relation to the company's securities independently of, and uninfluenced by, the company.
Share buy backs will be effected during the period between 19 June 2007 and 30 August 2007 inclusive within pre-set parameters. The buy backs will be in accordance with Diageo’s general authority to repurchase shares and in accordance with Chapter 12 of the Listing Rules. Consequently the maximum price paid will be limited to no more than 105 per cent of the average middle market quotations of Diageo shares for the 5 dealing days preceding the date of purchase. The shares repurchased will be cancelled on a daily basis.
In announcing this Diageo confirms that currently it has no unpublished price sensitive information.