Frasers Group Plc (LON:FRAS) has today announced that it has instructed Liberum Capital Limited in relation to a non-discretionary share buyback programme to purchase the Company’s shares with effect from today’s date for the period up to and including the last trading day prior to the publication of the Company’s preliminary results for the financial year ended 30 April 2023. This replaces the share buyback programme for the period from today up to and including the last trading day prior to the publication of the Company’s preliminary results for the financial year ended 30 April 2023 announced by the Company on 30 May 2023.
The aggregate purchase price of all shares acquired under the Programme will be no greater than £70,000,000. The maximum number of shares that may be purchased under the Programme will be 10,000,000 ordinary shares.
The purpose of the Programme is to reduce the share capital of Frasers Group.
The Programme will be conducted within certain pre-set parameters, and in accordance with the general authority to repurchase shares granted by the Company’s shareholders at the 2022 Annual General Meeting and Chapter 12 of the Financial Conduct Authority Listing Rules. A buy-back of ordinary shares on any trading day shall not exceed the 25% of the average daily trading volume specified in the provisions of the Market Abuse Regulation 596/2014/EU dealing with buyback programmes. The shares repurchased by the Frasers Group Plc will be held in treasury pending cancellation or re-issue.
