Second Tranche of the Share Buy-Back Programme
Source: RNS
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 £50 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 £25 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
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Enquiries |
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Pets at Home Group Plc: |
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Lesley Lazenby, Company Secretary +44 (0) 7866 156688
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Investor Relations Enquiries |
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Andrew Porteous, Director of Investor Relations +44 (0) 7740 361 849
Chris Ridgway, Head of Investor Relations |
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+44 (0)7788 783925
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Media Enquiries Pets at Home Group Plc: |
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Natalie Cullington, Head of Communications |
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+44 (0)7974 594 701
Citigate Dewe Rogerson:
Angharad Couch +44 (0) 7507 643 004 |
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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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