Pets at Home Grp - Second Tranche of the Share Buy-Back Programme
05/10/2022 07:00
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RNS Number : 7890B Pets At Home Group Plc 05 October 2022
FOR IMMEDIATE RELEASE, 5 OCTOBER 2022
Pets at Home Group Plc
Commencement of the Second Tranche of the Share Buy-Back Programme
Following the commitment made in the preliminary announcement of its results
for the year ended 31 March 2022, Pets at Home Group plc (the "Company")
announced on 20 June 2022 the commencement of a £50 million share buyback
programme (the "Programme") and that the Programme would be undertaken in two
tranches.
The Company is pleased to announce that the first tranche of the Programme,
undertaken by Numis Securities Limited, has now ended.
In respect of the second tranche of the Programme, the Company announces that
it has entered into non-discretionary instructions with HSBC Bank plc ("HSBC")
to conduct a share buyback programme on the Company's behalf and to make
trading decisions independently of the Company (the "Second Tranche
Programme").
Under the terms of the engagement with HSBC, the Second Tranche Programme will
be for a maximum aggregate consideration of £25 million. The Second Tranche
Programme will commence today, and will end on or before 5 March 2023. As
previously announced, the sole purpose of the Programme is to reduce the
Company's share capital. The board of directors of the Company (the "Board")
has decided that the shares purchased pursuant to the Programme will be
cancelled.
The Programme will take place within the limitations of the authority granted
to the Board of the Company by shareholders at its annual general meeting held
on 7 July 2022, pursuant to which the maximum number of shares to be bought
back by the Company is 50,000,000. The Programme will be in accordance with
the UK version of the EU Market Abuse Regulation (596/2014) and the Commission
Delegated Regulation (2016/1052), which are incorporated into English law by
virtue of the European Union (Withdrawal) Act 2018, and Chapter 12 of the
Financial Conduct Authority's Listing Rules.
LEI: 2138003Y9ULD24PD3J93
ENDS
Enquiries
Pets at Home Group Plc: +44 (0) 161 486 6688
Lucy Williams, Company Secretary
Investor Relations Enquiries
Chris Ridgway, Head of Investor Relations
+44 (0)7788 783925
Media Enquiries
Natalie Cullington, Head of Media & Corporate Affairs
+44 (0)7974 594 701
About Pets At Home
Pets at Home Group Plc is the UK's leading pet care business; our commitment
is to make sure pets and their owners get the very best advice, products and
care. Pet products are available online or from our 457 stores, many of which
also have vet practices and grooming salons. Pets at Home also operates a UK
leading small animal veterinary business, with 443 First Opinion practices
located both in our stores and in standalone locations. For more information
visit: http://investors.petsathome.com (http://investors.petsathome.com/)
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