REG - Sports Direct Intl. - SHARE BUYBACK <Origin Href="QuoteRef">SPD.L</Origin>
RNS Number : 4517FSports Direct International Plc28 July 2016Released: 28 July 2016
Sports Direct International Plc
28 July 2016
SPORTS DIRECT INTERNATIONAL PLC ("Sports Direct" or "the Company")
SHARE BUYBACK
Further to the announcement on 7 July 2016, and in reliance upon the authority to repurchase shares granted by the Company's shareholders at its 2015 Annual General Meeting, the Company is announcing that it intends to commence a share buyback, the purpose of which is to reduce its share capital.
The buyback will be for up to a maximum of 29,923,243 ordinary shares, representing approximately 5% of the Company's issued share capital, for an aggregate maximum consideration of 89,769,729. The Company has engaged Citigroup Global Markets Limited toundertake the buyback on its behalf during the period leading up to the Company's AGM on 7 September 2016 (at which it is intended to seek shareholder authority for further buybacks).
The buyback will be conducted in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The shares purchased by the Company will be held in treasury pending cancellation or re-issue.
Ends.
Sports Direct International plc
Dave Forsey, Chief Executive
Matt Pearson, Acting Chief Financial Officer
T. 0344 245 9200
KBA PR
Keith Bishop
T. 0344 245 9200
This information is provided by RNSThe company news service from the London Stock ExchangeENDPOSAKODDFBKDQOB
Recent news on Frasers
See all newsREG - Frasers Group PLC - Acquisition
AnnouncementREG - Frasers Group PLC - Transaction in Own Shares
AnnouncementREG - Frasers Group PLC - Transaction in Own Shares
AnnouncementREG - Frasers Group PLC - Transaction in Own Shares
AnnouncementREG - ASOS PLC Frasers Group PLC - Holding(s) in Company
Announcement