REG - JD Sports Fashion - LAUNCH OF SHARE BUYBACK PROGRAMME

JD Sports FashionAnnouncement

10/04/2025 07:00

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RNS Number : 4016E  JD Sports Fashion PLC  10 April 2025

 

10 April 2025 JD SPORTS FASHION PLC

LAUNCH OF SHARE BUYBACK PROGRAMME

JD Sports Fashion plc (the Company) announces that it will commence a share
buyback programme to purchase ordinary shares of £0.0005 each in the Company
(the Shares) with an aggregate value of up to £100 million (the Programme).
The Programme will therefore return up to £100 million to shareholders. The
Programme will commence immediately today and is expected to complete no later
than 31 July 2025.

The Company has entered into an irrevocable agreement (the Agreement) with
Merrill Lynch International (BofA Securities) to undertake the Programme on
the Company's behalf, with BofA Securities making market purchases, as
riskless principal, of the Shares on the London Stock Exchange. BofA
Securities will make trading decisions under the Programme independently of
the Company, subject to: (i) certain parameters agreed between BofA Securities
and the Company prior to the commencement of the Programme pursuant to the
Agreement; and (ii) the Company's right to terminate the Agreement in certain
customary circumstances. Any purchases of Shares contemplated by this
announcement will be subject to the terms of the Agreement.

Shares acquired by BofA Securities under the Agreement will be sold on to the
Company and will either be cancelled or held in treasury. The purpose of the
Programme is to reduce the share capital of the Company. The maximum number of
Shares that may be acquired under the Programme, as authorised by shareholders
at the Company's 2024 annual general meeting on 4 July 2024 (the 2024
Shareholder Authority), is 518,313,575, being the amount of the 2024
Shareholder Authority not yet utilised as at the date of this announcement.
The 2024 Shareholder Authority will expire at the close of business on 31 July
2025 or on the conclusion of the Company's 2025 annual general meeting, to be
held on 2 July 2025, where the Company expects to seek renewal of the 2024
Shareholder Authority (the 2025 Shareholder Authority).

Any purchase of Shares under the Programme will be executed in accordance with
the Company's general authority to purchase Shares pursuant to the 2024
Shareholder Authority and the 2025 Shareholder Authority (subject to
shareholder approval), the assimilated UK Market Abuse Regulation 596/2014 and
the assimilated Commission Delegated Regulation (EU) 2016/1052 (in each case
as incorporated into the law of the United Kingdom by the European Union
(Withdrawal) Act 2018 (as amended)), and Chapter 9 of the UK Financial Conduct
Authority's UK Listing Rules.

Any purchase of Shares under the Programme will be announced by no later than
7.30 a.m. on the business day following the calendar day on which the relevant
purchase occurred.

 

Enquiries:

 

 JD Sports Fashion Plc                                                  Tel: 0161 767 1000

 Andrew Higginson, Chair
 Régis Schultz, Chief Executive Officer
 Dominic Platt, Chief Financial Officer
 Theresa Casey, General Counsel & Company Secretary
 Mark Blythman, Director of Investor Relations

 

 FGS Global      Tel: 0207 251 3801
 Rollo Head
 Jenny Davey
 James Thompson

LEI: 213800HROV6Y9MUU8375

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