Employee Share Trust purchase of shares

RNS Number : 0464N

Home Retail Group Plc

02 September 2013

 

Monday 2 September 2013

Home Retail Group plc

Employee Share Trust purchase of shares

Home Retail Group has been informed by the Home Retail Group Employee Share Trust ('EST') that it has purchased a further 10.0m shares.  The shares contribute towards those potentially needed to satisfy obligations arising from employee share schemes, the majority of which relate to the save-as-you-earn plans offered to the Group's c.50,000 colleagues.  The purchase, including stamp duty and other transaction costs, represented an average price of 141 pence per share and £14.1m in total; this has been funded from Group cash resources.

Dividends on shares held by the EST are waived.  Shares held by the EST reduce the weighted average number of shares for both 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

Mark Willis                                Director of Investor Relations

Media (Finsbury)

Rollo Head                                                                               020 7251 3801

 

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