REG - Currys PLC - Launch of £50m Share Buyback Programme

CurrysAnnouncement

Thu 07:00

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RNS Number : 9261X  Currys PLC  04 September 2025

 
Launch of £50m Share Buyback Programme

Currys plc ("Currys" or the "Company") today announces that it will commence
a share buyback programme of Currys' ordinary shares of 0.1p each (the
"Ordinary Shares") up to a maximum consideration of £50m (the "Programme").

Further to our stated ambition to return surplus capital to shareholders
through share buybacks, which was included in the Full Year results
announcement in July 2025, and following the conclusion of the triennial
pension review, the Board has concluded that an on-market share buyback
programme for up to a maximum aggregate consideration of £50m is appropriate
and a value-enhancing use of cash. The purpose of this buyback programme is to
return surplus capital to shareholders and reduce the Group's share capital,
whilst maintaining the financial flexibility to invest in ongoing operations.
Any Ordinary Shares purchased will be cancelled.

Currys has entered into an agreement with Panmure Liberum, pursuant to which
Panmure Liberum will purchase the Company's Ordinary Shares for up to a
maximum consideration of £50m. The Programme will commence immediately, and
it is anticipated it will end no later than 30 April 2026, subject to market
conditions. For today's purchase, the maximum number of Ordinary Shares that
can be purchased (always subject to the aggregate maximum consideration of
£50m) is 113,349,465, being the number of shares the Company is authorised to
purchase pursuant to the authority granted by shareholders at the Company's
2024 Annual General Meeting (the "2024 AGM"). From 5 September onwards, when
the Company's 2025 Annual General Meeting ("the 2025 AGM") authority is
expected to come into effect, the maximum number of Ordinary Shares that can
be purchased will remain at 113,349,465. Panmure Liberum will make its trading
decisions in relation to the Ordinary Shares within the terms and pre-set
parameters of the Programme.

Any purchase of Ordinary Shares under the Programme will take place in open
market transactions and may be made from time to time depending on market
conditions, share price and trading volumes. The Programme will be effected
under the general authority to repurchase Ordinary Shares granted by the
Company's shareholders at the 2024 AGM and expected to be granted at the 2025
AGM today, and in accordance with Chapter 9 of the UK Financial Conduct
Authority's Listing Rules, and Regulation (EU) No 596/2014 and Commission
Delegated Regulation (EU) No 2016/1052 (both as they form part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018), including where
relevant pursuant to the UK Market Abuse Regulation.

Any purchase of Ordinary Shares pursuant to the Programme will be announced by
no later than 07:30 on the business day following the calendar day on which
the purchase occurred. The Company will make further announcements in due
course following the completion of any repurchases. There is no guarantee that
the Programme will be implemented in full or that any Ordinary Shares will be
repurchased by the Company.

 

 

 

 

For further information

 Dan Homan      Investor Relations Director  +44 (0)7401 400442
 Carla Fabiano  Head of Investor Relations   +44 (0)7460 944523
 Sarah Thomas   Deputy Company Secretary     +44 (0)7401 373188

Information on Currys plc is available at www.currysplc.com
(http://www.currysplc.com)
Follow us on LinkedIn and X: @currysplc

 

About Currys plc

Currys plc is a leading omnichannel retailer of technology products and
services, operating online and through 708 stores in 6 countries. We Help
Everyone Enjoy Amazing Technology, however they choose to shop with us.

In the UK & Ireland we trade as Currys and in the UK we operate our own
mobile virtual network, iD Mobile. In the Nordics we trade under the Elkjøp
brand. We're the market leader in all markets, able to serve all households
and employing more than 24,000 capable and committed colleagues.

We help everyone enjoy amazing technology. We believe in the power of
technology to improve lives, helping people stay connected, productive, fit,
healthy, and entertained. We're here to help everyone enjoy those benefits and
with our scale and expertise, we are uniquely placed to do so.

Our full range of services and support makes it easy for our customers to
discover, choose, afford and enjoy the right technology to the full. The
Group's operations include one of Europe's largest technology repair
facilities, a sourcing office in Hong Kong and an extensive distribution
network, centred on Newark in the UK and Jönköping in Sweden, enabling fast
and efficient delivery to stores and homes.

We're a leader in giving technology a longer life through repair, recycling
and reuse. We're reducing our impact on the environment in our operations and
our wider value chain and we aim to achieve net zero emissions by 2040. We
offer customers products that help them save energy, reduce waste and save
water, and we partner with charitable organisations to bring the benefits of
amazing technology to those who might otherwise be excluded.

Certain statements made in this announcement are forward-looking. Such
statements are based on current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ materially
from any expected future events or results referred to in these
forward-looking statements. Unless otherwise required by applicable laws,
regulations or accounting standards, we do not undertake any obligation to
update or revise any forward-looking statements, whether as a result of new
information, future developments or otherwise. Information contained on the
Currys plc website or the 'X' feed does not form part of this announcement and
should not be relied on as such.

 

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