REG - Grafton Group PLC - Share Buyback Programme

GraftonAnnouncement

12/05/2023 07:00

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RNS Number : 1758Z  Grafton Group PLC  12 May 2023

 

Grafton Group plc

 

Share Buyback Programme

 

 

On 4 May 2023, Grafton Group plc (the "Group", "Grafton" or the "Company"),
the international building materials distributor and DIY retailer, announced
its intention to introduce a third share buyback programme during 2023.

 

The Company today announces that it has entered into non-discretionary
arrangements with Goodbody Stockbrokers UC (acting as agent) and Numis
Securities Limited (acting as principal) to conduct a share buyback programme
and to buy back ordinary shares (the "Shares") for a maximum aggregate
consideration of up to £50 million and to make trading decisions under the
programme independently of the Company in accordance with certain pre-set
parameters (the "Buyback").

 

The Buyback will commence today, 12 May 2023, and end no later than 31 August
2023 subject to market conditions. Under the terms of the Buyback, the Shares
will be repurchased on the London Stock Exchange and cancelled.

 

The purpose of the Buyback is to reduce the share capital of the Company in
line with this announcement. It will be conducted within the limits of the
authority granted by shareholders at the Company's AGM held on 4 May 2023 to
repurchase up to 10 per cent of the Company's ordinary shares in issue, such
that the maximum number of Shares which can be repurchased under the Buyback
is 21,684,103 Shares.

 

The Buyback will also be conducted within the parameters prescribed by the
Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU)
2016/1052 (also as in force in the UK, from time to time, including, where
relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and the
Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as the applicable
laws and regulations of the UK Financial Conduct Authority.

 

The Company will make further announcements in due course following any buy
back of Shares. There is no guarantee that the Buyback will be implemented in
full or that any Shares will be bought back by the Company.

For further information please contact:

 

 Investors                                   Media

 Grafton Group plc  +353 1 216 0600          Murray          +353 1 498 0300
 Eric Born          Chief Executive Officer  Pat Walsh
 David Arnold       Chief Financial Officer
                                             Buchanan

                                             Helen Tarbet    +44 (0) 7872 604 453

                                             Simon Compton   +44 (0) 7979 497324

 

 

About Grafton

 

Grafton is an international distributor of building materials to trade
customers and has leading regional or national positions in the UK, Ireland,
the Netherlands and Finland. Grafton is also the market leader in the DIY,
Home and Garden retailing market in Ireland and is the largest manufacturer of
dry mortar and bespoke timber staircases in the UK.

 

Grafton trades from circa 360 branches and has circa 9,000 colleagues. The
Group's portfolio of brands includes Selco, Leyland SDM, MacBlair, CPI EuroMix
and StairBox in the UK; Chadwicks and Woodie's in Ireland, Isero and Polvo in
the Netherlands and IKH in Finland.

 

For further information visit www.graftonplc.com (http://www.graftonplc.com) .
 

 

 

 

 

 

 

 

 

 

 

 

 

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