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

Pets at HomeAnnouncement

24/06/2024 07:00

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RNS Number : 4455T  Pets At Home Group Plc  24 June 2024

FOR IMMEDIATE RELEASE, 24 June 2024

PETS AT HOME GROUP PLC

 

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 28 March 2024 (the "Results Announcement"), Pets at Home
Group plc (the "Company") is pleased to announce the commencement of a £25
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 ("Deutsche 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 Deutsche Numis, the First Tranche
Programme will be for maximum aggregate consideration of £12.5 million. The
First Tranche Programme will commence today, 24 June 2024, and will end on or
before 27 September 2024. 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 6 July 2023, pursuant to which the maximum number of shares to be bought
back by the Company is 48,319,778, and is conditional on the renewal of such
authority at the Company's 2024 annual general meeting, to be held on 11 July
2024. 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

 

Enquiries

 Pets at Home Group Plc:
 Lesley Lazenby, Company Secretary
 +44 (0) 161 486 6688

 

 Investor Relations Enquiries
 Andrew Porteous, Director of Investor Relations
 +44 (0) 161 486 6688

 Media Enquiries
 Natalie Cullington, Head of Media & Corporate Affairs
 +44 (0) 161 486 6688

 

 

About Pets At Home

Pets at Home Group Plc is the UK's leading pet care business, providing pets
and their owners with the very best advice, products and care. Pet products
are available online or from over 450 pet care centres, many of which also
have vet practices and grooming salons. The Group also operates a leading
small animal veterinary business, with over 440 veterinary general practices
located both in our pet care centres and in standalone locations. For more
information visit: https://www.petsathomeplc.com/
(https://www.petsathomeplc.com/)

 

 

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