JD Sports Fashion plc (LON:JD) has announced that it intends to return £200m of capital to shareholders through share buybacks in FY27, in line with the Company’s capital allocation priorities and its commitment to continue delivering significant cash returns to shareholders.
The Programme will commence immediately and initially involve the purchase of ordinary shares of £0.0005 each in the Company with an aggregate value of up to £100m, and is expected to complete no later than the close of the Company’s first half of FY27, 31 July 2026. Thereafter, the Company intends to enter into arrangements to commence the second tranche of the Programme in the sum of up to £100m.
The Company has entered into an irrevocable agreement with Merrill Lynch International to undertake the First Tranche on the Company’s behalf, with BofA Securities making market purchases, as riskless principal, of the Shares on the London Stock Exchange. BofA Securities will make trading decisions under the First Tranche independently of the Company, subject to: (i) certain parameters agreed between BofA Securities and the Company prior to the commencement of the First Tranche pursuant to the Agreement; and (ii) the Company’s right to terminate the Agreement in certain customary circumstances. Any purchases of Shares contemplated by this announcement will be subject to the terms of the Agreement.
Shares acquired as part of the Programme will be sold on to the Company and will either be cancelled or held in treasury. The purpose of the Programme is to reduce the share capital of the Company. The maximum number of Shares that may be acquired under the Programme, as authorised by shareholders at the Company’s 2025 annual general meeting on 2 July 2025, is 515,475,677. The amount not yet utilised at the date of this announcement is 368,613,803. The 2025 Shareholder Authority will expire at the close of business on 31 July 2026 or, if earlier, on the conclusion of the Company’s 2026 annual general meeting, where the Company expects to seek renewal of the 2025 Shareholder Authority.
Any purchase of Shares under the Programme will be executed in accordance with the Company’s general authority to purchase Shares pursuant to the 2025 Shareholder Authority, the assimilated UK Market Abuse Regulation 596/2014 and the assimilated Commission Delegated Regulation (EU) 2016/1052 (in each case as incorporated into the law of the United Kingdom by the European Union (Withdrawal) Act 2018 (as amended)), and Chapter 9 of the UK Financial Conduct Authority’s UK Listing Rules.
Any purchase of Shares under the Programme will be announced by no later than 7.30 a.m. on the business day following the calendar day on which the relevant purchase occurred.
