Kingfisher PLC Share repurchase programme - Second tranche
RNS Number : 3366T
24 November 2021
Share repurchase programme - Second Tranche
24 November 2021: Kingfisher plc (the " Company " or "
Kingfisher ") announces that it has instructed BNP PARIBAS EXANE ("
BNPP ") in relation to a non-discretionary programme to purchase
its shares for cancellation, during the period which will commence
today and end no later than 28 January 2022 (the " Tranche "). BNPP
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 GBP75 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
second tranche of an overall commitment by the Company to purchase
GBP300 million of its shares for cancellation, as announced on 21
September 2021 (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unpublished price sensitive information.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.
Note 1. The maximum number of shares that the Company may
purchase would be 188,523,588 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 30 June 2021 and taking in
to account the 22,599,655 shares purchased and cancelled during the
first tranche completed on 22 November 2021.
Contacts Tel: Email:
Company Secretary +44(0) 7887 456498 email@example.com
Investor Relations +44 (0) 20 7644 firstname.lastname@example.org
Treasury +44 (0) 20 7644 email@example.com
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(END) Dow Jones Newswires
November 24, 2021 01:59 ET (06:59 GMT)
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