Frasers Group Plc (LON:FRAS) has announced today that it intends to commence a new share buyback programme from today’s date for the period up to and including the last trading day prior to the Company’s financial year end on 30th April 2023.
The aggregate purchase price of all shares acquired under the Programme will be no greater than £80,000,000. 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 the 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 Listing Rules. A buy-back of ordinary shares on any trading day may 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 will be held in treasury pending cancellation or re-issue.