REG - Howden Joinery Grp - Share Buyback Programme

Howden JoineryAnnouncement

29/07/2025 07:00

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RNS Number : 8608S  Howden Joinery Group PLC  29 July 2025

29 July 2025

 

HOWDEN JOINERY GROUP PLC

("Howdens" or the "Company")

 

SHARE BUYBACK PROGRAMME

 

Further to (i) the announcement of Howdens' intention to repurchase up to
£100 million of its shares over the next 12 months in its 2024 Full Year
Results (the "Programme"); and (ii) the announcement on 13 March 2025 of the
first £50 million tranche of the Programme to be executed by Deutsche Numis,
the Company announces that it has entered into an arrangement with Barclays
Bank PLC, acting through its investment bank ("Barclays") in respect of the
second £50 million tranche of the Programme. The arrangement allows Barclays
to purchase, together with any other ordinary shares in the Company (the
"Shares") purchased on the Company's behalf pursuant to its buyback programme,
up to (a) prior to the expiration of the Company's current buyback authority
granted by shareholder resolution dated 1 May 2025, 54,974,739 Shares; and (b)
following such expiration, the aggregate number of Shares authorised to be
purchased by the Company under any subsequent buyback authority granted during
the arrangement (which in any event shall be less than 15% of the relevant
class of the Company's equity shares at the date of such authority) during the
period from the date of this announcement and no later than 25 February 2026.
These share purchases will be made by Barclays acting as riskless principal
and in accordance with the arrangement and, in the case of any purchases made
during closed periods, shall be made independently of and uninfluenced by the
Company.

 

Any share purchases effected pursuant to the arrangement will be subject to
the terms of the arrangement with Barclays and in any case will be effected in
a manner consistent with both the general authority vested in the Company to
repurchase shares and the Financial Conduct Authority's Listing Rules. The
aggregate purchase price under this arrangement, together with any other
Shares purchased on the Company's behalf pursuant to its buyback programme,
will not exceed £100,000,000.

 

Following the purchase of the Shares, they will either be cancelled or placed
into treasury for the sole purpose of meeting future obligations arising from
Company employee share option programmes.

 

Further information on the Company can be found on our website:
www.howdenjoinerygroupplc.com (http://www.howdenjoinerygroupplc.com)

 

Enquiries

 

 Mark Fearon, Director of IR and Communications:  +44(0)771 187 5070
 Forbes McNaughton, Company Secretary:            +44(0)207 535 1162

 

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