Pets At Home Group Plc Commencement of Share Buy-Back Programme

RNS Number : 4455T

Pets At Home Group Plc

24 June 2024

 

FOR IMMEDIATE RELEASE, 24 June 2024

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 28 March 2024 (the "Results Announcement"), Pets at Home Group plc (the "Company") is pleased to announce the commencement of a £25 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 ("Deutsche 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 Deutsche Numis, the First Tranche Programme will be for maximum aggregate consideration of £12.5 million. The First Tranche Programme will commence today, 24 June 2024, and will end on or before 27 September 2024. 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, and is conditional on the renewal of such authority at the Company's 2024 annual general meeting, to be held on 11 July 2024. 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:
Lesley Lazenby, Company Secretary
[phone]

 

Investor Relations Enquiries
Andrew Porteous, Director of Investor Relations
[phone]
Media Enquiries
Natalie Cullington, Head of Media & Corporate Affairs
[phone]

 

 

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: https://www.petsathomeplc.com/

 

 

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

 

 

MSCBDGDLCDDDGSB