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6 Mar 2025 07:02
Grafton Group plc
Share Buyback Programme
Grafton Group plc (the "Group" or the "Company"), the international building materials distributor and DIY retailer, today announces its intention to introduce a new share buyback programme.
The Company also announces today that it has entered into non-discretionary arrangements with Goodbody Stockbrokers UC (acting as agent) and Numis Securities Limited (acting as principal) to conduct a further share buyback programme and to buy back ordinary shares (the "Shares") for a maximum aggregate consideration of up to £30 million and to make trading decisions under the programme independently of the Company in accordance with certain pre-set parameters (the "Buyback").
The Buyback will commence today, 6 March 2025, and end no later than 31 August 2025 subject to market conditions. Under the terms of the Buyback, the Shares will be repurchased on the London Stock Exchange and cancelled.
The maximum number of shares which can be repurchased under the Programme is 17,030,094 Shares, subject at all times to the applicable authority granted by shareholders at the Company's AGM held on 2 May 2024 and including, for the avoidance of doubt, pursuant to any renewed authority granted by shareholders at the 2025 AGM of the Company. The purpose of the Programme is to reduce the share capital of the Company in line with this announcement.
The Buyback will also be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the UK, from time to time, including, where relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and the Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as the applicable laws and regulations of the UK Financial Conduct Authority.
The Company will make further announcements in due course following any buy back of Shares. There is no guarantee that the Buyback will be implemented in full or that any Shares will be bought back by the Company.
For further information please contact:
Investors | Media | ||
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Grafton Group plc | +353 1 216 0600 | Murrays | +353 1 498 0300 |
Eric Born |
Chief Executive Officer | Pat Walsh | +353 (0) 87 226 9345 |
David Arnold | Chief Financial Officer | ||
Buchanan Helen Tarbet Toto Berger | GraftonGroup@buchanancomms.co.uk +44 (0) 7872 604 453 +44 (0) 7880 680 403 | ||
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