Wickes Commences Second Tranche Of Share Buyback Programme

Following the release of its Full Year results today, Wickes Group plc is pleased to announce the commencement of the second tranche of its £25 million share buyback programme (the "Second Tranche") previously announced on 28 July 2023.

The Second Tranche will be for a maximum aggregate market value equivalent to £12,500,000 (the "Buyback Amount") (excluding any associated costs and stamp duty) which will be bought back in the form of the Company's ordinary shares. The Second Tranche will commence from the date of this announcement and will end on or before 30 September 2024. The sole purpose of the Second Tranche is to reduce the Company's share capital. The Company intends to cancel any shares purchased.

The Company has entered into a non-discretionary arrangement with Peel Hunt LLP to conduct the Second Tranche on its behalf.  Under this arrangement, Peel Hunt will act as principal and make trading decisions independently of the Company. 

The Second Tranche will take place within the limitations of the authority granted to the Board of the Company by its relevant annual general meeting (the "AGM") which at the date of this announcement is 16,736,366 ordinary shares. The maximum aggregate number of shares will be updated to reflect the authority granted to the Board at the 2024 AGM to be held on 24 May 2024. The Second Tranche will take place in accordance with the Market Abuse Regulation (596/2014) as it forms part of domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended) and Chapter 12 of the Financial Conduct Authority's Listing Rules.

Source : Wickes plc

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