Centrica PLC has announced the commencement of its £450 million share buy-back extension program. The company has entered into an arrangement with Goldman Sachs International to conduct the repurchases on its behalf and make trading decisions independently. The first tranche of the program, with an aggregate maximum consideration of £200 million, represents approximately 2.4% of the company's issued share capital. The purpose of the program is to reduce the company's capital. The maximum number of ordinary shares that may be purchased under the first tranche is 568,617,397. The buy-back will be conducted in accordance with regulations and listing rules. There is no guarantee that the first tranche will be implemented in full or that any shares will be bought back by the company.