Last checked at 4 Dec 2015 17:32
Marks and Spencer Group plc Share Repurchase Programme
Marks and Spencer Group plc ("Marks & Spencer") today announces that it will commence a share repurchase programme of Marks & Spencer's ordinary shares of 25 pence each (the "Ordinary Shares") up to a maximum consideration of £60,225,960.
Marks & Spencer announces that it has entered into an irrevocable, non-discretionary arrangement with Citigroup Global Markets Limited ("Citi") to enable the purchase of Ordinary Shares during the period running from 7th December 2015 and ending no later than 24 March 2016.
Any purchase of Ordinary Shares done in relation to this announcement will be carried out on the London Stock Exchange and executed in accordance with the Listing Rules and Marks & Spencer's general authority to make market purchases of Shares. Marks & Spencer will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, Ordinary Shares purchased under the Programme will be cancelled.
Citi may undertake transactions in Shares (which may include sales and hedging activities, in addition to purchases) in order to manage its market exposure under the Programme. Citi will make any disclosures it is legally required to make in relation to such transactions.
Contact:
M&S Corporate PR 0208 718 1919
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.