3 Feb 2023 17:25
For Immediate Release | 3 February 2023 |
ScS Group plc
("ScS", or the "Group")
Transaction in Own Shares
ScS, one of the UK's largest retailers of upholstered furniture and flooring, announces that the Group has purchased ordinary shares of 0.1 pence each in its issued share capital as follows:
(1) Date of purchase: | 3 February 2023 |
(2) Number of shares purchased: | 29,000 |
(3) Average price per share: | 223.75 pence |
(4) Highest price per share: | 223.75 pence |
(5) Lowest price per share: | 223.75 pence |
(6) Treatment of purchased shares: | Cancellation |
Following cancellation, the Group's issued share capital will be 34,358,984 ordinary shares, each with one voting right.
The total number of voting rights in the Group will therefore be 34,227,624 (which excludes ordinary shares held by the Group in treasury for the benefit of its Employee Benefit Trust). This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Group under the FCA's Disclosure and Transparency Rules.
The transaction is in accordance with the Group's buyback programme (the "Programme") announced on 25 November 2022.
In accordance with Article 5(1)(b) of the Market Abuse Regulation 596/2014/EU incorporated into UK domestic law by the European Union (Withdrawal) Act 2018, the table below contains detailed information of the individual trades made by Shore Capital as part of the Programme.
Schedule of Purchases - Individual Transactions
Number of shares purchased | Transaction price (pence per share) | Time of transaction |
29,000 | 223.75 | 16:44 |
Enquiries:
ScS Group PLC Steve Carson, Chief Executive Officer Chris Muir, Chief Financial Officer | c/o Buchanan +44 (0)20 7466 5000 |
Buchanan Richard Oldworth Toto Berger Verity Parker | Tel: +44 (0)20 7466 5000 scs@buchanan.uk.com |
Shore Capital Patrick Castle James Thomas Iain Sexton | Tel: +44 (0)20 7408 4050 |
ScS is one of the UK's largest retailers of upholstered furniture and floorings. We trade as two separate brands- the core ScS brand and the newly acquired Snug brand.
The ScS brand is promoted as the "Sofa Carpet Specialist", seeking to offer value and choice through a wide range of upholstered furniture and flooring products. The product range is designed to appeal to a broad customer base with a mid-market priced offering and is currently traded from 100 stores. The brand specialises primarily in fabric and leather sofas and chairs, selling a range of branded products which are not sold under registered trademarks and a range of branded products which are sold under registered trademarks owned by ScS (such as Endurance, Inspire and SiSi Italia). It also offers a range of third party brands (which include La-Z-Boy, Ideal Home and G Plan). ScS' flooring business includes carpets, rugs, wood, laminate and luxury vinyl tiling.
Snug is an innovative digital-first sofa and sofa-bed business specialising in modular and re-configurable sofas, with quick delivery and excellent quality and customer service. Although predominantly online, Snug also operates from one store in Leeds and seven concessions throughout England.