REG - Kingfisher PLC - Share Repurchase Programme - Second Tranche

KingfisherAnnouncement

27/03/2024 07:30

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RNS Number : 4176I  Kingfisher PLC  27 March 2024

KINGFISHER PLC

Share Repurchase Programme - Second Tranche

27 March 2024: Kingfisher plc (the "Company" or "Kingfisher") announces that
it has instructed Goldman Sachs International ("GSI") in relation to a
non-discretionary programme to purchase its shares for cancellation, during
the period which will commence today and end no later than 14 June 2024 (the
"Tranche"). GSI will act as principal for the on-sale of such shares to the
Company and will make its trading decisions concerning the timing of the
purchases of the Company's ordinary shares independently of the Company.

The maximum amount allocated to the Tranche (excluding expenses) will be no
greater than £50 million (Note 1). The purpose of the Tranche is to reduce
the share capital of the Company. As such, the Company will cancel any
ordinary shares purchased. This is the second tranche of an overall commitment
by the Company to purchase £300 million of its shares for cancellation, as
announced on 19 September 2023 (the "Programme").

Any acquisitions under the Programme will be carried out within certain
pre-set parameters, and in accordance with the Company's general authority to
repurchase shares, the EU Market Abuse Regulation (596/2014) as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and
Chapter 12 of the Listing Rules. The Company confirms that it currently has no
unpublished price sensitive information.

For the avoidance of doubt, no repurchases will be made in respect of the
Company's American Depositary Receipts.

Note 1. The maximum number of shares that the Company may purchase would be
150,001,924 ordinary shares of 15 5/7 pence each, in line with the authority
granted to Kingfisher by shareholders at the Company's Annual General Meeting
on 27 June 2023 and taking into account the 21,143,586 shares purchased and
cancelled during the fifth and final tranche of the previous £300 million
share repurchase programme (announced on 7 July 2023) and the 22,781,508
shares purchased and cancelled during the first tranche of the current £300m
share repurchase programme (announced on 3 October 2023).

 

 Contacts            Tel:                  Email:
 Company Secretary   +44 (0) 7768 806 248  secretariat@kingfisher.com
 Investor Relations  +44 (0) 20 7644 1082  investorenquiries@kingfisher.com
 Treasury            +44 (0) 20 7372 8008  treasury@kingfisher.com

 

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