Share Repurchase Programme - Fifth Tranche
KINGFISHER PLC
Share Repurchase Programme - Fifth and Final Tranche
17 January 2025: Kingfisher plc (the "Company" or "Kingfisher") announces that it has instructed Goldman Sachs International ("GSI") 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 24 March 2025 (the "Tranche"). GSI will act as principal for the 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 £75 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 fifth and final tranche of an overall commitment by the Company to purchase £300 million of its shares for cancellation, as announced on 19 September 2023 (the "Programme"). To date, the Company has repurchased and cancelled 85,315,628 shares under 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 9 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 The Company confirms that it currently has no unpublished price sensitive information.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 144,799,115 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 20 June 2024 and taking into account the 18,612,440 shares and 23,977,312 shares purchased and cancelled during the third and fourth tranches of the Programme, respectively.
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Contacts |
Tel: |
Email: |
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Company Secretary |
+44 (0) 77 6880 6248 |
secretariat@kingfisher.com |
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Investor Relations |
+44 (0) 20 7644 1082 |
investorenquiries@kingfisher.com |
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Treasury |
+44 (0) 20 7372 8008 |
treasury@kingfisher.com |
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