Commencement of Share Buy-Back Programme

Pets At Home Group Plc

26 June 2023

 

FOR IMMEDIATE RELEASE, 26 June 2023

PETS AT HOME GROUP PLC

Pets at Home Group Plc: Commencement of Share Buy-Back Programme

Following the commitment made in the preliminary announcement of its results for the year ended 30 March 2023 (the "Results Announcement"), Pets at Home Group plc (the "Company") is pleased to announce the commencement of a £50 million share buyback programme (the "Programme").  The Programme will be undertaken in two tranches.  In respect of the first tranche of the Programme, the Company announces that it has entered into non-discretionary instructions with Numis Securities Limited ("Numis") to conduct a share buyback programme on the Company's behalf and to make trading decisions independently of the Company (the "First Tranche Programme").

Under the terms of the engagement with Numis, the First Tranche Programme will be for maximum aggregate consideration of £25 million. The First Tranche Programme will commence today, 26 June 2023, and will end on or before 29 September 2023. The sole purpose of the Programme is to reduce the Company's share capital.  The board of directors of the Company (the "Board") has decided that the shares purchased pursuant to the Programme will be cancelled.

The Programme will take place within the limitations of the authority granted to the Board of the Company by shareholders at its annual general meeting held on 7 July 2022, pursuant to which the maximum number of shares to be bought back by the Company is 50,000,000, and is conditional on the renewal of such authority at the Company's 2023 annual general meeting, to be held on 6 July 2023. The Programme will be in accordance with the UK version of the EU Market Abuse Regulation (596/2014) and the Commission Delegated Regulation (2016/1052), which are incorporated into English law by virtue of the European Union (Withdrawal) Act 2018, and Chapter 12 of the Financial Conduct Authority's Listing Rules.

The second tranche of the Programme is expected to be undertaken by HSBC Bank plc. Further details in respect of these arrangements will be announced in due course.

LEI: 2138003Y9ULD24PD3J93

Enquiries

Pets at Home Group Plc:	[phone]
Lucy Williams, Company Secretary

Investor Relations Enquiries
Chris Ridgway, Head of Investor Relations
[phone]
Media Enquiries
Natalie Cullington, Head of Media & Corporate Affairs
[phone]

About Pets At Home

Pets at Home Group Plc is the UK's leading pet care business; our commitment is to make sure pets and their owners get the very best advice, products and care. Pet products are available online or from our 457 stores, many of which also have vet practices and grooming salons. Pets at Home also operates a UK leading small animal veterinary business, with 444 First Opinion practices located both in our stores and in standalone locations. For more information visit: http://investors.petsathome.com

 

END