Howden Joinery Group PLC Share buy-back programme (8556Y)
10 Mayo 2023 - 1:00AM
UK Regulatory
TIDMHWDN
RNS Number : 8556Y
Howden Joinery Group PLC
10 May 2023
10 May 2023
HOWDEN JOINERY GROUP PLC
("Howdens" or the"Company")
Share buy-back programme
Further to the announcement of Howdens' intention to repurchase
ordinary shares in the Company up to a maximum consideration of
GBP50 million during financial year 2023 (the "Programme") in its
2022 Full Year Results, the Company announces that it has
instructed its joint-broker Barclays Bank PLC, acting through its
investment bank ("Barclays"), to execute the second part of the
Programme by way of a non-discretionary arrangement to repurchase
shares in the Company up to a maximum consideration of GBP25
million commencing on or after 10 May 2023 and ending no later than
30 December 2023. These share purchases will be made by Barclays
acting as principal for resale to the Company in accordance with
the arrangement and, in the case of any purchases made during
closed periods, shall be made independently of and uninfluenced by
the Company.
The Company's shareholders authorised the Company to repurchase
up to a maximum of 55,455,816 of its ordinary shares at the Annual
General Meeting held on 4 May 2023 (the "2023 AGM"). The aggregate
number of shares acquired by the Company pursuant to the Programme
shall not exceed the maximum number of shares which the Company is
authorised to purchase pursuant to such general authorities as at
the time of purchase. The purpose of the Programme is to reduce the
share capital of the Company. To the extent required, the Company
may in the future use the repurchased shares to meet obligations
arising from employee share plans. It is intended that shares
repurchased under the Programme will be cancelled to reduce the
share capital of the Company or transferred into treasury.
The Programme is in line with the Company's stated capital
allocation policy, which prioritises our strategy of continuing to
invest in depots, manufacturing and logistics capabilities and
related strategic investments, while delivering a progressive
dividend. Any repurchases of shares under the Programme will be
carried out on the London Stock Exchange and in accordance with
(and subject to the limits prescribed by) the Company's general
authority to repurchase shares granted by its shareholders (at the
2023 AGM), the Market Abuse Regulation 596/2014 (as it forms part
of UK law pursuant to the European Union (Withdrawal) Act 2018),
the Commission Delegated Regulation (EU) 2016/1052 (as it forms
part of UK law pursuant to the European Union (Withdrawal) Act
2018) and Chapter 12 of the Financial Conduct Authority's Listing
Rules.
Enquiries:
Howdens
Mark Fearon, Director of IR and Communications: +44 (0)7711 875070
Forbes McNaughton, Company Secretary: +44 (0)207 535 1110
Brunswick (Media Enquiries)
Nina Coad or David Litterick: +44 (0)207 404 5959
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 rns@lseg.com 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
POSSSLFWUEDSEEI
(END) Dow Jones Newswires
May 10, 2023 02:00 ET (06:00 GMT)
Howden Joinery (LSE:HWDN)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Howden Joinery (LSE:HWDN)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024