Commencement of Share Buy-Back Programme
Pets at Home commences £50 million share buyback programme in two tranches.
- Total buyback programme £50 million
- First tranche £25 million
- First tranche duration 24 June 2026 to 9 October 2026
- Maximum shares to be repurchased 44,828,459
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Following the commitment made in the preliminary announcement of its results for the year ended 26 March 2026, Pets at Home Group plc (the "Company") is pleased to announce the commencement of a £50 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 Deutsche Bank AG ("Deutsche Bank") 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 Bank, the First Tranche Programme will be for maximum aggregate consideration of £25 million. The First Tranche Programme will commence today, 24 June 2026, and will end on or before 9 October 2026. 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 initially take place within the limitations of the authority granted to the Board of the Company by shareholders at its annual general meeting held on 10 July 2025. However, the continuation of the programme beyond the Company's 2026 annual general meeting, to be held on 9 July 2026, is conditional on the renewal of such authority at that meeting and the programme will, if the authority is approved, continue on the basis of the parameters set out therein. The maximum number of shares which may be bought back by the Company is 44,828,459. 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.
Further details of the second tranche of the Programme will be announced in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.