Dfs Furniture Plc Regulatory News (DFS)

DFS Furniture PLC

16 November 2020

DFS Furniture plc - LR 3.3.2(6) RIS Announcement

DFS Furniture plc (the "Company")

Issue of shares to employee benefit trust

The Company is pleased to announce that the board of directors of the Company (the "Board") have approved the issue and allotment of 3,000,000 new ordinary shares of £0.10 each in the capital of the Company (the "New Ordinary Shares"). The New Ordinary Shares are to be purchased at nominal value by the DFS Furniture plc Equity Plan Employee Trust (the "EBT"), the Company's employee benefit trust.

The Company has applied to the Financial Conduct Authority (the "FCA") and the London Stock Exchange (the "LSE") for the New Ordinary Shares to be admitted to listing on the premium segment of the official list of the FCA and to trading on the main market for listed securities of the LSE.

The New Ordinary Shares will be issued and allotted to the trustee of the EBT for nominal value and used for the purpose of satisfying the vesting of outstanding awards granted between 2017 and 2019 under the DFS Furniture plc 2015 Long Term Incentive Plan, the DFS Furniture plc 2015 Restricted Share Plan and the DFS Furniture plc Sharesave Scheme.

Subject to approval from the FCA and the LSE, of the change in nominal value of the Company's shares (approved by shareholders on Friday 13 November) and the issue of the New Ordinary Shares, it is expected that admission of the New Ordinary Shares will become effective on Tuesday 17 November 2020. The New Ordinary Shares, which will rank pari passu with the existing ordinary shares in issue, will be allotted under the plans listed above.

Following the change in the nominal value of the Company's shares and the admission of the New Ordinary Shares, the total number of ordinary shares of £0.10 each in the capital of the Company in issue will be 258,636,720, with each share (other than treasury shares held by the Company) carrying the right to one vote. 

About DFS Furniture plc

DFS is the clear market leading retailer of living room furniture in the United Kingdom. We design, manufacture, sell and deliver to our customers an extensive range of furniture products. The business operates a retail network of living room furniture stores in the United Kingdom and Europe, together with an online channel. These have been established and developed gradually over 50 years of operating history. We attract customers to our stores and website through our substantial and continued investment in nationwide marketing activities and our reputation for high quality products and service, breadth of product ranges and price points, and favourable consumer financing options.