Kingfisher PLC Share Repurchase Programme (4380O)
03 Octubre 2023 - 1:30AM
UK Regulatory
TIDMKGF
RNS Number : 4380O
Kingfisher PLC
03 October 2023
KINGFISHER PLC
Share repurchase programme - First Tranche
3 October 2023: Kingfisher plc (the " Company " or " Kingfisher
") announces that it has instructed BNP Paribas Exane ("BNP Paribas
Exane") in relation to an irrevocable non-discretionary programme
to purchase its shares for cancellation, during the period which
commences today and ends no later than 12 January 2024 (the "
Tranche "). BNP Paribas Exane will act as principal for the
simultaneous 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 GBP50 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
first tranche of an overall commitment by the Company to purchase
GBP300 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unpublished price sensitive information.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.
BNP Paribas Exane (or any affiliate) may undertake transactions
in Ordinary Shares (which may include sales, derivatives, and other
hedging activities, in addition to purchases) in order to manage
its risk positions arising directly or indirectly from the
Programme. Disclosure of any such transactions will not be made by
BNP Paribas Exane (or any affiliate) as a result of or as part of
the Programme, but BNP Paribas Exane (or any affiliate) will make
any disclosures they are legally required to make in relation to
such transactions.
Note 1. The maximum number of shares that the Company may
purchase would be 172,783,432 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 27 June 2023 and taking
into account the 21,143,586 shares purchased and cancelled during
the fifth and final tranche of the previous GBP300 million share
repurchase programme (announced on 7 July 2023).
Contacts Tel: Email:
Company Secretary +44 (0) 77 6880 secretariat@kingfisher.com
6248
Investor Relations +44 (0) 20 7644 investorenquiries@kingfisher.com
1082
Treasury +44 (0) 79 7767 treasury@kingfisher.com
8200
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END
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October 03, 2023 02:30 ET (06:30 GMT)
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