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Frasers Group PLC (FRAS)

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Monday 20 June, 2022

Frasers Group PLC

Buyback Commencement & Anticipated Trading Update

RNS Number : 3858P
Frasers Group PLC
20 June 2022
 

Date: 20 June 2022

 

Frasers Group Plc

("Frasers Group" or the "Company")

 

Share Buyback Commencement & Trading Update

 

The Company announces that it has instructed Numis Securities Limited in relation to an irrevocable, non-discretionary share buyback programme to purchase the Company's shares during the forthcoming closed period, which commences on 20th June 2022 and will end on the day that the Company publishes its unaudited trading update (excluding Studio Retail Limited) (the "Closed Period Programme"). Frasers Group will provide an unaudited trading update excluding Studio Retail Limited on 21st July 2022. At present, the full audited Company accounts including Studio Retail Limited are anticipated to be provided in September.

 

Numis Securities Limited will conduct the Closed Period Programme on the Company's behalf and make trading decisions under the Closed Period Programme independently of the Company.  The maximum number of shares that may be purchased under the Closed Period Programme will be 5,000,000 ordinary shares and the aggregate purchase price of all shares acquired under the Closed Period Programme will be no greater than £35,000,000.

 

The purpose of the Closed Period Programme is to reduce the share capital of the Company.

 

The Programme will be conducted within certain pre-set parameters, and in accordance with the general authority to repurchase shares granted by the Company's shareholders at the 2021 annual general meeting, Chapter 12 of the UK Listing Authority Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU dealing with buyback programmes. The shares repurchased by the Company will be held in treasury pending cancellation or re-issue.

 

 

Ends.

 

 

Frasers Group plc

Thomas Piper, Company Secretary  T. 0344 245 9200

LEI:213800JEGHHEAXIJDX34  E. [email protected]

 

Chris Wootton, Chief Financial   T. 0344 245 9200

Officer  E. [email protected]

 

Ronnie Laffar, Head of PR &   T. 07585 886189

Communications   E. [email protected]

 

Rosie Oddy, Brunswick Group,  T. 07734 861279

PR Advisors  E. [email protected]

 

Numis

 

Luke Bordewich  T. 020 7260 1000

Ollie Steele

Duncan Wilson

 

Liberum

 

John Fishley  T. 020 3100 2000

Kane Collins

Nikhil Varghese

 

 

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