SHARE BUYBACK

RNS Number : 4517F

Sports Direct International Plc

28 July 2016

 

Released: 28 July 2016

Sports Direct International Plc

28 July 2016

SPORTS DIRECT INTERNATIONAL PLC ("Sports Direct" or "the Company")

SHARE BUYBACK

Further to the announcement on 7 July 2016, and in reliance upon the authority to repurchase shares granted by the Company's shareholders at its 2015 Annual General Meeting, the Company is announcing that it intends to commence a share buyback, the purpose of which is to reduce its share capital.

The buyback will be for up to a maximum of 29,923,243 ordinary shares, representing approximately 5% of the Company's issued share capital, for an aggregate maximum consideration of £89,769,729. The Company has engaged Citigroup Global Markets Limited to undertake the buyback on its behalf during the period leading up to the Company's AGM on 7 September 2016 (at which it is intended to seek shareholder authority for further buybacks).

The buyback will be conducted in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The shares purchased by the Company will be held in treasury pending cancellation or re-issue. 

Ends.

Sports Direct International plc

Dave Forsey, Chief Executive

Matt Pearson, Acting Chief Financial Officer

T. 0344 245 9200

KBA PR                                   

Keith Bishop

T. 0344 245 9200

 

END

 

 

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