Commencement of Share Repurchase Programme

RNS Number : 4167Y

Currys PLC

14 January 2022

 

14 January 2022

For immediate release

CURRYS PLC

Share Repurchase Programme

CURRYS PLC ("Currys") today announces that it will commence a share repurchase programme of Currys's ordinary shares of 0.1p each (the "OrdinaryShares") up to a maximum consideration of £75m to end of October 2022 (the "Programme").

Currys   announces that it has entered into a non-discretionary instruction with Morgan Stanley & Co. International Plc (" Morgan Stanley ") in relation to the purchase by Morgan Stanley, acting as principal during the period commencing on 14 January 2022   and ending no later than 29 April 2022, of ordinary shares in the share capital of Currys (the "Shares") for an aggregate purchase price of no greater than £32m and the simultaneous on-sale of such Shares by Morgan Stanley to Currys.

Any purchase of Ordinary   Shares done in relation to this announcement will be carried out on the London Stock Exchange and Multilateral Trading Facilities, as defined by the Directive 2014/65/EU on markets in financial instruments (including the delegated and implementing acts adopted under it) as implemented, retained, amended, extended, re-enacted or otherwise given effect in the United Kingdom from 1 January 2021 and as amended or supplemented in the United Kingdom thereafter, and executed in accordance with the Listing Rules and Currys 's general authority granted by shareholders at the 2021 Annual General Meeting to make market purchases of shares. The Shares will be purchased in accordance with the price and volume conditions set out in the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilisation measures as implemented, retained, amended, extended, re-enacted or otherwise given effect in the United Kingdom from 1 January 2021 and as amended or supplemented in the United Kingdom thereafter .   Currys   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.

For further information:

Dan Homan	Investor Relations Director	[phone]
Sarah Thomas	Deputy Company Secretary	[phone]

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

 

END

 

 

MSCBKNBQDBKBNDD