REG - ScS Group plc - Transaction in Own Shares

SCSAnnouncement

13/02/2023 13:15

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RNS Number : 7567P  ScS Group PLC  13 February 2023

  For Immediate Release   13 February 2023

ScS Group plc

("ScS", or the "Group")

Transaction in Own Shares

ScS, one of the UK's largest retailers of upholstered furniture and flooring,
announces that the Group has purchased ordinary shares of 0.1 pence each in
its issued share capital as follows:

 (1) Date of purchase:               13 February 2023
 (2) Number of shares purchased:     56,312
 (3) Average price per share:        220.00 pence
 (4) Highest price per share:        220.00 pence
 (5) Lowest price per share:         220.00 pence
 (6) Treatment of purchased shares:  Cancellation

 

Following cancellation, the Group's issued share capital will be 34,067,936
ordinary shares, each with one voting right.

The total number of voting rights in the Group will therefore be 33,936,576
(which excludes ordinary shares held by the Group in treasury for the benefit
of its Employee Benefit Trust). This figure may be used by shareholders as the
denominator for the calculation by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
Group under the FCA's Disclosure and Transparency Rules.

The transaction is in accordance with the Group's buyback programme (the
"Programme") announced on 25 November 2022.

In accordance with Article 5(1)(b) of the Market Abuse Regulation 596/2014/EU
incorporated into UK domestic law by the European Union (Withdrawal) Act 2018,
the table below contains detailed information of the individual trades made by
Shore Capital as part of the Programme.

 

Schedule of Purchases - Individual Transactions

 

 Number of shares purchased  Transaction price (pence per share)  Time of transaction
 56,312                      220.00                               11:22

 

Enquiries:

 ScS Group PLC                           c/o Buchanan +44 (0)20 7466 5000

 Steve Carson, Chief Executive Officer

 Chris Muir, Chief Financial Officer
 Buchanan                                Tel: +44 (0)20 7466 5000

 Richard Oldworth                        scs@buchanan.uk.com (mailto:scs@buchanan.uk.com)

 Toto Berger

 Verity Parker
 Shore Capital                           Tel: +44 (0)20 7408 4050

 Patrick Castle

 James Thomas

 Iain Sexton

 

ScS is one of the UK's largest retailers of upholstered furniture and
floorings. We trade as two separate brands- the core ScS brand and the newly
acquired Snug brand.

 

The ScS brand is promoted as the "Sofa Carpet Specialist", seeking to offer
value and choice through a wide range of upholstered furniture and flooring
products. The product range is designed to appeal to a broad customer base
with a mid-market priced offering and is currently traded from 100 stores. The
brand specialises primarily in fabric and leather sofas and chairs, selling a
range of branded products which are not sold under registered trademarks and a
range of branded products which are sold under registered trademarks owned by
ScS (such as Endurance, Inspire and SiSi Italia). It also offers a range of
third party brands (which include La-Z-Boy, Ideal Home and G Plan). ScS'
flooring business includes carpets, rugs, wood, laminate and luxury vinyl
tiling.

 

Snug is an innovative digital-first sofa and sofa-bed business specialising in
modular and re-configurable sofas, with quick delivery and excellent quality
and customer service. Although predominantly online, Snug also operates from
one store in Leeds and seven concessions throughout England.

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