Share buy-back progamme

RNS Number : 5616A

Wolseley PLC

29 September 2015

 

NEWS RELEASE

29 September 2015

Wolseley plc Share buy-back programme

Wolseley plc (the "Company") today announced its intention to commence a £300 million share buy-back programme (the "Programme").  The Company announces that share repurchases under the Programme, which will be effected on the Company's behalf by its brokers Bank of America Merrill Lynch and Barclays, will commence from today.

The Company's shareholders at its Annual General Meeting ("AGM") held on 25 November 2014 generally authorised the Company to purchase up to a maximum of 26,438,350 of its ordinary shares during the period commencing on 25 November 2014 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 expects to complete the Programme by September 2016.  It is intended that any shares repurchased under the Programme 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.

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.  Group revenue for the year ended 31 July 2015 was £13,300 million and ongoing trading profit was £857 million.  Wolseley has about 38,500 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 30 October 2015 on 2 December 2015.

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