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Kingfisher PLC (KGF)

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Wednesday 24 November, 2021

Kingfisher PLC

Share repurchase programme - Second tranche

RNS Number : 3366T
Kingfisher PLC
24 November 2021
 

KINGFISHER PLC

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 £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 second tranche of an overall commitment by the Company to purchase £300 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 The Company confirms that it currently has no unpublished price sensitive information.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 protected]

Investor Relations

+44 (0) 20 7644 1082

[email protected]

Treasury

+44 (0) 20 7644 1170

[email protected]

 

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