PETS Pets At Home Group Plc

TIDMPETS

RNS Number : 9668U

Pets At Home Group Plc

29 November 2023

FOR IMMEDIATE RELEASE, 29 November 2023

Pets at Home Group Plc

Commencement of the Second Tranche of the Share Buy-Back Programme

Following the commitment made in the preliminary announcement of its results for the year ended 30 March 2023, Pets at Home Group plc (the "Company") announced on 26 June 2023 the commencement of a GBP50 million share buyback programme (the "Programme") and that the Programme would be undertaken in two tranches.

In respect of the second tranche of the Programme, the Company announces that it has entered into non-discretionary instructions with HSBC Bank plc ("HSBC") to conduct a share buyback programme on the Company's behalf and to make trading decisions independently of the Company (the "Second Tranche Programme").

Under the terms of the engagement with HSBC, the Second Tranche Programme will be for a maximum aggregate consideration of GBP25 million. The Second Tranche Programme will commence today, and will end on or before 28 March 2024. As previously announced, 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 6 July 2023, pursuant to which the maximum number of shares to be bought back by the Company is 48,319,778. 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.

LEI: 2138003Y9ULD24PD3J93

ENDS

 
 Enquiries 
 Pets at Home Group Plc: 
 Lesley Lazenby, Company Secretary 
  +44 (0) 7866 156688 
 Investor Relations Enquiries 
 Andrew Porteous, Director of Investor Relations 
  +44 (0) 7740 361 849 
 
  Chris Ridgway, Head of Investor Relations 
 +44 (0)7788 783925 
 
   Media Enquiries 
   Pets at Home Group Plc: 
 Natalie Cullington, Head of Communications 
 +44 (0)7974 594 701 
 
  Citigate Dewe Rogerson: 
 
  Angharad Couch 
  +44 (0) 7507 643 004 
 

About Pets At Home

Pets at Home Group Plc is the UK's leading pet care business, providing pets and their owners with the very best advice, products and care. Pet products are available online or from over 450 pet care centres, many of which also have vet practices and grooming salons. The Group also operates a leading small animal veterinary business, with over 440 veterinary general practices located both in our pet care centres and in standalone locations. For more information visit: http://investors.petsathome.com/

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(END) Dow Jones Newswires

November 29, 2023 02:00 ET (07:00 GMT)

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