Share Repurchase Programme

RNS Number : 7082U

Kingfisher PLC

11 April 2016

 

Kingfisher plc

3 Sheldon Square

Paddington

London

W2 6PX

11 April 2016

KINGFISHER PLC

Kingfisher plc share repurchase programme

Kingfisher plc ("Kingfisher") announces that it has engaged Goldman Sachs International ("Goldman Sachs") to manage part of the capital return programme announced by Kingfisher on 25 January 2016 on the basis of an irrevocable non-discretionary share buyback programme (the "Programme").

Subject to the terms and upon the conditions of the engagement letter entered into between Kingfisher and Goldman Sachs (the "Engagement Letter"), Kingfisher has issued an irrevocable instruction to Goldman Sachs in relation to the purchase by Goldman Sachs, acting as principal, during the period commencing on and including today's date and ending no later than 25 July 2016, of ordinary shares in the share capital of Kingfisher (the "Shares") for an aggregate purchase price of no greater than £52,000,000 and the simultaneous on-sale of such Shares by Goldman Sachs to Kingfisher for cancellation by Kingfisher. Kingfisher confirms that any such purchase of Shares by Goldman Sachs and the simultaneous on-sale of Shares by Goldman Sachs to Kingfisher will be effected in accordance with certain parameters agreed between Kingfisher and Goldman Sachs in the Engagement Letter, and in accordance with both Kingfisher's general authority to repurchase Shares granted by its shareholders on 9 June 2015 and Chapter 12 of the Financial Conduct Authority's Listing Rules.  Kingfisher confirms that it has no unpublished price sensitive information.

Goldman Sachs and/or its affiliates may undertake transactions in Shares (which may include sales of Shares and other hedging activities, in addition to purchases) and related derivatives in order to manage its risk positions arising from the Programme.  Disclosure of any such transactions will not be made by Goldman Sachs as a result of or as part of the Programme, but Goldman Sachs will make disclosures it is legally required to make.

Enquiries:

Richard Cordeschi

Head of Secretariat

Tel:  [phone]

 

END

 

 

POSIPMFTMBAMBJF