Ferguson PLC Share buy-back programme (5683V)
December 04 2019 - 2:00AM
UK Regulatory
TIDMFERG
RNS Number : 5683V
Ferguson PLC
04 December 2019
NEWS RELEASE
4 December 2019
Ferguson plc
Share buy-back programme
Ferguson plc (the Company) announces that, in continuation of
the share repurchase programme announced by the Company on 11 June
2019 (the Programme), it has instructed its broker J.P. Morgan
Securities plc (JPMS plc) to purchase shares (acting as riskless
principal) for immediate on-sale to the Company up to the value of
US$64 million in aggregate, commencing from 4 December 2019 and
ending no later than 10 June 2020. The value of shares repurchased
by the Company under the Programme pursuant to its arrangements
with both Barclays and JPMS plc will not, in aggregate, exceed
US$500 million.
The Company's shareholders renewed the Company's authority at
the Annual General Meeting held on 21 November 2019 and have
generally authorised the Company to purchase up to a maximum of
23,185,045 of its ordinary shares. The aggregate number of shares
acquired by the Company pursuant to the Programme shall not exceed
the maximum number of shares which the Company is authorised to
purchase pursuant to such general authorities. It is intended that
any shares repurchased under the Programme will be transferred into
Treasury.
The purpose of the Programme is to reduce the capital of
Ferguson plc. To the extent required, Ferguson plc may in future
use the repurchased shares to satisfy employee share options. Any
purchases of shares by the Company in relation to the Programme
will be carried out on the London Stock Exchange and in accordance
with (and subject to the limits prescribed by) the Company's
general authority to repurchase shares granted by its shareholders,
the Market Abuse Regulation 596/2014, the Commission Delegated
Regulation (EU) 2016/1052 and Chapter 12 of the Financial Conduct
Authority's Listing Rules.
For further information please contact
Ferguson plc
Mike Powell, Chief Financial Officer Tel: +44 (0) 118 927 3800
Mark Fearon, Director of Corporate Communications and IR Mobile: +44 (0) 7711 875070
Brunswick (Media Enquiries)
Michael Harrison, Charlie Pretzlik Tel: +44 (0)20 7404 5959
Notes to announcement
1. About Ferguson plc
Ferguson plc is the world's largest specialist trade distributor
of plumbing and heating products to professional contractors
principally operating in North America and the UK. Ongoing revenue
for the year ended 31 July 2018 was $20.75 billion and ongoing
trading profit was $1.51 billion. Ferguson plc is listed on the
London Stock Exchange (LSE: FERG) and is in the FTSE 100 index of
listed companies. On 10 May 2019, the Group completed the
simplification of its corporate structure pursuant to which
Ferguson plc was introduced as the new parent company of the Group.
For more information, please visit www.fergusonplc.com or follow us
on Twitter https://twitter.com/Ferguson_plc
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contact rns@lseg.com or visit www.rns.com.
END
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