Invesco Announces Accelerated Share Repurchase Program

(RTTNews) - Invesco Ltd. (IVZ) reported long-term net flow information for its EMEA business to provide greater transparency to the market in light of the recent UK Referendum. Additionally, long-term net flows for Invesco Ltd. from June 1 through June 29, 2016, were positive at $1.3 billion.

Reflecting confidence in the fundamentals of its business over the long term, the company intends to take advantage of the current price of Invesco shares by executing an accelerated share repurchase program.

As part of the previously announced Board-approved share repurchase program, the company intends to enter into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to repurchase $150 million of the company's outstanding common stock. The company expects to receive an initial delivery of shares on July 1, 2016, based on the closing price on June 30, 2016.

The total number of shares that the company will repurchase under the ASR will be determined upon final settlement based generally on the volume-weighted average price of the company's common stock during the repurchase period. Final settlement of the ASR is expected to occur no later than third quarter of 2016.