Kingfisher PLC Share Repurchase Programme - Third Tranche

RNS Number : 4374U

Kingfisher PLC

01 July 2024

 

KINGFISHER PLC
Share Repurchase Programme -Third Tranche

1 July 2024: Kingfisher plc (the "Company" or "Kingfisher") announces that it has instructed Goldman Sachs International ("GSI") in relation to a non-discretionary programme to purchase its shares for cancellation, during the period which will commence today and end no later than 16 September 2024 (the "Tranche"). GSI will act as principal for the on-sale of such shares to the Company and will make its trading decisions concerning the timing of the purchases of the Company's ordinary shares independently of the Company.

The maximum amount allocated to the Tranche (excluding expenses) will be no greater than £50 million (Note 1). The purpose of the Tranche is to reduce the share capital of the Company. As such, the Company will cancel any ordinary shares purchased. This is the third tranche of an overall commitment by the Company to purchase £300 million of its shares for cancellation, as announced on 19 September 2023 (the "Programme").

Any acquisitions under the Programme will be carried out within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules. The Company confirms that it currently has no unpublished price sensitive information.

For the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.

Note 1. The maximum number of shares that the Company may purchase would be 187,388,867 ordinary shares of 15 5/7 pence each, in line with the authority granted to Kingfisher by shareholders at the Company's Annual General Meeting on 20 June 2024.

To date, the Company has repurchased and cancelled 42,725,876 shares under the Programme.

 

Contacts	Tel:	Email:
Company Secretary	[phone]	[e-mail]
Investor Relations	[phone]	[e-mail]
Treasury	[phone]	[e-mail]

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

POSFZGZVKRDGDZM