Pets At Home Group Plc Commencement of Share Buy-Back Programme (7997D)
26 Giugno 2023 - 8:00AM
UK Regulatory
TIDMPETS
RNS Number : 7997D
Pets At Home Group Plc
26 June 2023
FOR IMMEDIATE RELEASE, 26 June 2023
PETS AT HOME GROUP PLC
Pets at Home Group Plc: Commencement of Share Buy-Back
Programme
Following the commitment made in the preliminary announcement of
its results for the year ended 30 March 2023 (the "Results
Announcement"), Pets at Home Group plc (the "Company") is pleased
to announce the commencement of a GBP50 million share buyback
programme (the "Programme"). The Programme will be undertaken in
two tranches. In respect of the first tranche of the Programme, the
Company announces that it has entered into non-discretionary
instructions with Numis Securities Limited ("Numis") to conduct a
share buyback programme on the Company's behalf and to make trading
decisions independently of the Company (the "First Tranche
Programme").
Under the terms of the engagement with Numis, the First Tranche
Programme will be for maximum aggregate consideration of GBP25
million. The First Tranche Programme will commence today, 26 June
2023, and will end on or before 29 September 2023. The sole purpose
of the Programme is to reduce the Company's share capital. The
board of directors of the Company (the "Board") has decided that
the shares purchased pursuant to the Programme will be
cancelled.
The Programme will take place within the limitations of the
authority granted to the Board of the Company by shareholders at
its annual general meeting held on 7 July 2022, pursuant to which
the maximum number of shares to be bought back by the Company is
50,000,000, and is conditional on the renewal of such authority at
the Company's 2023 annual general meeting, to be held on 6 July
2023. The Programme will be in accordance with the UK version of
the EU Market Abuse Regulation (596/2014) and the Commission
Delegated Regulation (2016/1052), which are incorporated into
English law by virtue of the European Union (Withdrawal) Act 2018,
and Chapter 12 of the Financial Conduct Authority's Listing
Rules.
The second tranche of the Programme is expected to be undertaken
by HSBC Bank plc. Further details in respect of these arrangements
will be announced in due course.
LEI: 2138003Y9ULD24PD3J93
Enquiries
Pets at Home Group Plc: +44 (0) 161 486 6688
Lucy Williams, Company Secretary
Investor Relations Enquiries
Chris Ridgway, Head of Investor Relations
+44 (0)7788 783925
Media Enquiries
Natalie Cullington, Head of Media & Corporate
Affairs
+44 (0)7974 594 701
About Pets At Home
Pets at Home Group Plc is the UK's leading pet care business;
our commitment is to make sure pets and their owners get the very
best advice, products and care. Pet products are available online
or from our 457 stores, many of which also have vet practices and
grooming salons. Pets at Home also operates a UK leading small
animal veterinary business, with 444 First Opinion practices
located both in our stores and in standalone locations. For more
information visit: http://investors.petsathome.com
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END
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