Pets At Home Group Plc Second Tranche of the Share Buy-Back Programme (7890B)

TIDMPETS

RNS Number : 7890B

Pets At Home Group Plc

05 October 2022

FOR IMMEDIATE RELEASE, 5 OCTOBER 2022

Pets at Home Group Plc

Commencement of the Second Tranche of the Share Buy-Back Programme

Following the commitment made in the preliminary announcement of its results for the year ended 31 March 2022, Pets at Home Group plc (the "Company") announced on 20 June 2022 the commencement of a GBP50 million share buyback programme (the "Programme") and that the Programme would be undertaken in two tranches.

The Company is pleased to announce that the first tranche of the Programme, undertaken by Numis Securities Limited, has now ended.

In respect of the second tranche of the Programme, the Company announces that it has entered into non-discretionary instructions with HSBC Bank plc ("HSBC") to conduct a share buyback programme on the Company's behalf and to make trading decisions independently of the Company (the "Second Tranche Programme").

Under the terms of the engagement with HSBC, the Second Tranche Programme will be for a maximum aggregate consideration of GBP25 million. The Second Tranche Programme will commence today, and will end on or before 5 March 2023. As previously announced, 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 7 July 2022, pursuant to which the maximum number of shares to be bought back by the Company is 50,000,000. 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.

LEI: 2138003Y9ULD24PD3J93

ENDS

 
 Enquiries 
                                                  +44 (0) 161 486 
 Pets at Home Group Plc:                           6688 
 Lucy Williams, Company Secretary 
 Investor Relations Enquiries 
 Chris Ridgway, Head of Investor Relations 
 +44 (0)7788 783925 
 Media Enquiries 
 Natalie Cullington, Head of Media & Corporate 
  Affairs 
 +44 (0)7974 594 701

About Pets At Home

Pets at Home Group Plc is the UK's leading pet care business; our commitment is to make sure pets and their owners get the very best advice, products and care. Pet products are available online or from our 457 stores, many of which also have vet practices and grooming salons. Pets at Home also operates a UK leading small animal veterinary business, with 443 First Opinion practices located both in our stores and in standalone locations. For more information visit: http://investors.petsathome.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBKQBQCBDDNKK

(END) Dow Jones Newswires

October 05, 2022 02:00 ET (06:00 GMT)

Pets At Home (LSE:PETS)
Historical Stock Chart
From May 2024 to Jun 2024