UK – On 25 September 2024, Tate & Lyle PLC, a global leader in ingredient solutions, progressed with its ongoing share buyback initiative, purchasing 188,279 of its ordinary shares.
The shares were bought at prices between £6.65 (US$8.88) and £6.78 (US$9.05) each.
After this transaction, the company now holds 14,889,070 shares in its treasury.
The buyback transactions took place across various trading platforms, including the London Stock Exchange, as part of a broader effort to enhance shareholder returns.
In addition to the buyback program, the company has also been active in other areas this year.
It recently expanded its sustainable stevia program in China, following a successful pilot program conducted in 2021.
The expansion aims to involve more farmers in sustainable practices for stevia cultivation.
The farmers participating in this initiative will be provided with support to implement methods identified in a 2019 life-cycle analysis of stevia production, which were later verified during the 2021 pilot project.
The program is designed to promote sustainable growth within the stevia industry.
Tate & Lyle developed this initiative in collaboration with the environmental charity Earthwatch Europe and worked alongside Nanjing Agricultural University in East China.
The 2021 pilot program focused on reducing the environmental and social impacts associated with stevia production.
Building on the success of the pilot, the company is now extending the program in 2022 to include farmers in Linze, Gansu Province, in West China, while also expanding participation in the original pilot area of Dongtai, Jiangsu Province, in East China.
In addition to its efforts in China, Tate & Lyle recently opened a new Customer Innovation and Collaboration Centre in Santiago, Chile.
This facility is equipped with a kitchen, an application laboratory, and rapid prototyping capabilities.
It is part of the company’s network of innovation centers across Latin America, which includes locations in Brazil and Mexico.
The new center will enable Tate & Lyle’s food scientists to collaborate with regional customers on developing products that address the increasing demand for reduced sugar, fat, and calorie content, while also enhancing fiber in consumer goods.
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