Commencement of Share Buy-Back Programme
£25 million share buyback programme commences, to be undertaken in two tranches.
- Buyback programme value £25 million
- First tranche value £12.5 million
- First tranche period 9 June 2025 to 26 September 2025
- Maximum shares authorised for buyback 46,791,154
Select text to share a quote on X · sign in to keep highlights & notes in your PETS notes
Following the commitment made in the preliminary announcement of its results for the year ended 27 March 2025 (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, 9 June 2025, and will end on or before 26 September 2025. 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 11 July 2024, pursuant to which the maximum number of shares to be bought back by the Company is 46,791,154, and is conditional on the renewal of such authority at the Company's 2025 annual general meeting, to be held on 10 July 2025. 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 Jefferies International Limited. Further details in respect of these arrangements will be announced in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.