Transaction in Own Shares

RNS Number : 0727X

ScS Group PLC

24 August 2022

 

For Immediate Release

24 August 2022

ScS Group plc

("ScS", or the "Group")

Transaction in Own Shares

ScS, one of the UK's largest retailers of upholstered furniture and flooring, announces that the Group has purchased ordinary shares of 0.1 pence each in its issued share capital as follows:

(1) Date of purchase:	24 August 2022
(2) Number of shares purchased:	18,733
(3) Average price per share:	160.00 pence
(4) Highest price per share:	160.00 pence
(5) Lowest price per share:	160.00 pence
(6) Treatment of purchased shares:	Cancellation

Following cancellation, the Group's issued share capital will be 36,431,613 ordinary shares, each with one voting right.

The total number of voting rights in the Group will therefore be 36,178,882 (which excludes ordinary shares held by the Group in treasury for the benefit of its Employee Benefit Trust). This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Group under the FCA's Disclosure and Transparency Rules.

The transaction is in accordance with the Group's buyback programme (the "Programme") announced on 22 March 2022.

In accordance with Article 5(1)(b) of the Market Abuse Regulation 596/2014/EU incorporated into UK domestic law by the European Union (Withdrawal) Act 2018, the table below contains detailed information of the individual trades made by Shore Capital as part of the Programme.

The Group previously announced purchases under the Programme on the 22 and 23 August 2022 which were incorrectly disclosed as having occurred on the 17 August 2022, whereas in fact these purchases occurred on the 22 and 23 August 2022 respectively. All other information contained within these announcements is accurate.

Schedule of Purchases - Individual Transactions

Number of shares purchased	Transaction price (pence per share)	Time of transaction
18,733	160.00	08:31

Enquiries:

ScS Group PLC Steve Carson, Chief Executive Officer Chris Muir, Chief Financial Officer	c/o Buchanan [phone]
Buchanan Richard Oldworth Toto Berger Verity Parker	Tel: [phone] [e-mail]
Shore Capital Patrick Castle James Thomas Iain Sexton	Tel: [phone]

ScS is one of the UK's largest retailers of upholstered furniture and flooring, promoting itself as the "Sofa Carpet Specialist", seeking to offer value and choice through a wide range of upholstered furniture and flooring products. The Group's product range is designed to appeal to a broad customer base with a mid-market priced offering and is currently traded from 98 stores.

The Group's upholstered furniture business specialises primarily in fabric and leather sofas and chairs. ScS sells a range of branded products which are not sold under registered trademarks and a range of branded products which are sold under registered trademarks owned by ScS (such as Endurance, Inspire and SiSi Italia). The Group also offers a range of third party brands (which include La-Z-Boy and G Plan). The Group's flooring business includes carpets, as well as laminate and vinyl flooring.

 

END

 

 

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