Commencement of Share Buy-Back Programme
Summary by AI BETAClose X
FOR IMMEDIATE RELEASE, 24 June 2026
PETS AT HOME GROUP PLC
Pets at Home Group Plc: Commencement of Share Buy-Back Programme
Following the commitment made in the preliminary announcement of its results for the year ended 26 March 2026, Pets at Home Group plc (the "Company") is pleased to announce the commencement of a £50 million share buyback programme (the "Programme"). The Programme will be undertaken in two tranches. In respect of the first tranche of the Programme, the Company announces that it has entered into non-discretionary instructions with Deutsche Bank AG ("Deutsche Bank") to conduct a share buyback programme on the Company's behalf and to make trading decisions independently of the Company (the "First Tranche Programme").
Under the terms of the engagement with Deutsche Bank, the First Tranche Programme will be for maximum aggregate consideration of £25 million. The First Tranche Programme will commence today, 24 June 2026, and will end on or before 9 October 2026. The sole purpose of the Programme is to reduce the Company's share capital. The board of directors of the Company (the "Board") has decided that the shares purchased pursuant to the Programme will be cancelled.
The Programme will initially take place within the limitations of the authority granted to the Board of the Company by shareholders at its annual general meeting held on 10 July 2025. However, the continuation of the programme beyond the Company's 2026 annual general meeting, to be held on 9 July 2026, is conditional on the renewal of such authority at that meeting and the programme will, if the authority is approved, continue on the basis of the parameters set out therein. The maximum number of shares which may be bought back by the Company is 44,828,459. The Programme will be in accordance with the UK version of the EU Market Abuse Regulation (596/2014) and the Commission Delegated Regulation (2016/1052), which are incorporated into English law by virtue of the European Union (Withdrawal) Act 2018, and Chapter 12 of the Financial Conduct Authority's Listing Rules.
Further details of the second tranche of the Programme will be announced in due course.
LEI: 2138003Y9ULD24PD3J93
Enquiries
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Pets at Home Group Plc: |
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Lesley Lazenby, Company Secretary
Alex Chesworth, Deputy Company Secretary
+44 (0) 161 486 6688
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Investor Relations Enquiries |
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Andrew Porteous, Director of Investor Relations +44 (0) 7740 361 849
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Media Enquiries |
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Natalie Cullington, Head of Media & Corporate Affairs +44 (0) 7974 594 701
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About Pets at Home
Pets at Home Group Plc is the UK's leading pet care business, providing pets and their owners with the very best advice, products and care. Pet products are available online or from over 460 pet care centres, many of which also have vet practices and grooming salons. The Group also operates a leading small animal veterinary business, with over 450 veterinary general practices located both in our pet care centres and in standalone locations. For more information visit: https://www.petsathomeplc.com/
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