Share buy-back programme

RNS Number : 1248T

Wolseley PLC

01 October 2014

 



NEWS RELEASE

1 October 2014

Wolseley plc Share buy-back programme

On 30 September 2014 Wolseley announced its intention to commence a £250 million share buy-back programme.  The Company has entered into an arrangement with its brokers, Bank of America Merrill Lynch and Deutsche Bank, to commence on its behalf share repurchases under the Company's share repurchase programme ("Programme").   The programme will commence from today.

The Company's shareholders at its Annual General Meeting (AGM) held on 26 November 2013 generally authorised the Company to purchase up to a maximum of 26,551,830 of its ordinary sharesduring the period commencing on 26 November 2013 and ending on the expiry of the Company's existing shareholder authority to purchase the shares. The Company intends to request a similar general authority from shareholders at the next AGM and to complete the Programme by September 2015.  It is intended that any shares purchased under this arrangement will be transferred into treasury.  

Any share repurchases under the Programme will be effected in accordance with the Company's general authority to repurchase shares and Chapter 12 of the UKLA Listing Rules which requires that the maximum price is  an amount not higher than (i) 105 per cent  of the  average middle market quotations  of the Company's shares for the five business days immediately preceding the date on which the Company's shares are contracted to be purchased and (ii) the higher of the price of the last independent trade of a share and the highest current independent bid for a share as derived from the London Stock Exchange. 

For further information please contact

Wolseley plc

John Martin, Chief Financial Officer	Tel:       [phone]
Mark Fearon, Director of Corporate Communications and IR	Mobile: [phone]
Brunswick (Media Enquiries) Michael Harrison, Nina Coad	Tel:       [phone]

Notes to announcement

1.            About Wolseley
Wolseley plc is the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials in North America, the UK and Continental Europe.  Ongoing revenue for the year ended 31 July 2014 was £12,773 million and ongoing trading profit was £761 million.  Wolseley has nearly 40,000 employees and is listed on the London Stock Exchange (LSE: WOS) and is in the FTSE 100 index of listed companies.  For more information, please visit www.wolseley.com or follow us on Twitter https://twitter.com/wolseleyplc.

2.            Financial calendar

Wolseley will announce its Q1 Interim Management Statement for the period ending 31 October 2014 on 26 November 2014.

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