REG - Pets at Home Grp - Commencement of Share Buy-Back Programme

Pets at HomeAnnouncement

20/06/2022 07:00

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RNS Number : 3780P  Pets At Home Group Plc  20 June 2022

 

FOR IMMEDIATE RELEASE, 20 JUNE 2022

 

Pets at Home Group Plc: Commencement of Share Buy-Back Programme

 

Following the commitment made in the preliminary announcement of its results
for the year ended 31 March 2022 (the "Results Announcement"), Pets at Home
Group plc (the "Company") is pleased to announce the commencement of a £50
million share buyback programme (the "Programme").  The Programme will be
undertaken in two tranches.  In respect of the first tranche of the
Programme, the Company announces that it has entered into non-discretionary
instructions with Numis Securities Limited ("Numis") to conduct a share
buyback programme on the Company's behalf and to make trading decisions
independently of the Company (the "First Tranche Programme").

Under the terms of the engagement with Numis, the First Tranche Programme will
be for maximum aggregate consideration of £25 million. The First Tranche
Programme will commence today, 20 June 2022, and will end on or before 30
September 2022. 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 8 July 2021, pursuant to which the maximum number of shares to be bought
back by the Company is 50,000,000, and is conditional on the renewal of such
authority at the Company's 2022 annual general meeting, to be held on 7 July
2022. 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.

The second tranche of the Programme is expected to be undertaken by HSBC Bank
plc. Further details in respect of these arrangements will be announced in due
course.

 

LEI: 2138003Y9ULD24PD3J93

 

ENDS

 
 Enquiries
 Pets at Home Group Plc:                                                     +44 (0) 161 486 6688
 Lucy Williams, Company Secretary

 Investor Relations Enquiries
 Roger Tejwani, Director of Investor Relations & External Communication
 +44 (0)1279 927022

 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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