Employee Share Trust Purchase

RNS Number : 6747O

Home Retail Group Plc

01 July 2010

 



01 July 2010

Home Retail Group plc

Employee Share Trust purchase of shares

Home Retail Group has today been informed by the Home Retail Group Employee Share Trust ('EST') that it has purchased 2.0m shares.  The shares contribute towards those potentially needed to satisfy share-based incentive scheme awards on vesting.  The purchase, including stamp duty and other transaction costs, represented an average price of 227 pence per share and £4.5m in total; this has been funded from Group cash resources.

At 27 February 2010, the EST held 13.9m shares.  The purchase of further shares by the EST contributes towards the estimate of shares required to satisfy awards granted to date.  Dividends on shares held by the EST for this purpose are waived.  Shares held by the EST reduce the weighted average number of shares for basic and dilutive earnings per share calculations, until the time that the EST allocates shares to satisfy awards on vesting.  The accounting charges relating to the Group's share-based incentive schemes are already expensed to the income statement over the relevant vesting periods.

Enquiries

Analysts and investors (Home Retail Group)

Richard Ashton                          Finance Director                         01908 600 291

Stuart Ford                               Director of Investor Relations

Media (Finsbury)

Rollo Head                                                                                 020 7251 3801

Certain statements made in this announcement are forward looking statements.  Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward looking statements.

 

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