Total Voting Rights
DFS Furniture PLC announced the transfer of 1,855,580 ordinary shares from treasury to its Employee Benefit Trust to meet future share scheme obligations, increasing the total number of ordinary shares with voting rights to 236,000,000. Additionally, the Employee Benefit Trust's trustee intends to make market purchases of up to 1,300,000 ordinary shares, funded by the company, to further support these obligations, with trading decisions made independently.
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Transfer of treasury shares to the Employee Benefit Trust & intended purchase of shares by the Employee Benefit Trust
Total voting rights
DFS Furniture PLC (the "Company") today announces that following a review of the Company's obligations arising under the Company's All Employee Share Scheme, the Company intends to transfer 1,855,580 ordinary shares of £0.10 each in the Company ("Ordinary Shares"), currently held in Treasury, to the DFS Furniture PLC Employee Benefit Trust (the "EBT") to help meet future obligations arising under the Company's share schemes.
The Ordinary Shares currently held in Treasury were originally purchased in 2021 as part of the share buyback scheme at the time, all other shares purchased under that scheme were cancelled on 3 May 2024.
Total voting rights
The Company's issued ordinary share capital comprises 236,000,000 Ordinary Shares with a nominal value of £0.10 each; and the total number of Ordinary Shares with voting rights in the Company is 234,144,420, following the completion of the transfer to the EBT the total number of Ordinary Shares with voting rights in the Company is 236,000,000.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in, DFS under the FCA's Disclosure and Transparency Rules.
Intended purchase of shares by Employee Benefit Trust
Additionally, the trustee Ocorian Limited (the "Trustee") of the EBT, has today indicated its intention to make market purchases of up to 1,300,000 Ordinary Shares for the benefit of the EBT to help meet future obligations arising under the Company's share schemes (the "Market Purchases").
Market Purchases are subject to the Trustee's absolute discretion as to the purchase price to be paid. It is expected that the Market Purchases will be funded by amounts gifted by the Company.
The Trustee will make its trading decisions in relation to the Market Purchases independently of, and uninfluenced by, the Company. A further announcement will be made on completion of the Market Purchases.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.