Kingfisher Announces Latest Share Repurchase Programme

Kingfisher plc (the "Company" or "Kingfisher") announces that it has instructed Goldman Sachs International ("GSI") in relation to a non-discretionary programme to purchase its shares for cancellation, during the period which will commence today and end no later than 30 June 2023 (the "Tranche"). GSI will act as principal for the on-sale of such shares to the Company, and will make its trading decisions concerning the timing of the purchases of the Company's ordinary shares independently of the Company.

The maximum amount allocated to the Tranche (excluding expenses) will be no greater than £50 million (Note 1). The purpose of the Tranche is to reduce the share capital of the Company. As such, the Company will cancel any ordinary shares purchased. This is the fourth tranche of an overall commitment by the Company to purchase £300 million of its shares for cancellation, as announced on 23 May 2022 (the "Programme").

Any acquisitions under the Programme will be carried out within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules. The Company confirms that it currently has no unpublished price sensitive information.

For the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.

Note 1. The maximum number of shares that the Company may purchase would be 152,308,347 ordinary shares of 15 5/7 pence each, in line with the authority granted to Kingfisher by shareholders at the Company's Annual General Meeting on 22 June 2022 and taking in to account the 51,921,179 shares purchased and cancelled during the previous two tranches of the £300 million share repurchase programme (announced respectively on 28 July 2022 and 24 November 2022).

Source : Kingfisher

Image : Alan Morris / iStockphoto.com (1281594226)

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