Share Repurchase Programme

RNS Number : 4161S

Marks & Spencer Group PLC

07 July 2015

 



Marks and Spencer Group plc Share Repurchase Programme

Marks and Spencer Group plc Share Repurchase Programme

Marks and Spencer Group plc ("Marks & Spencer") today announces that it will commence a share repurchase programme of Marks & Spencer's ordinary shares of 25 pence each (the "Ordinary Shares") up to a  maximum consideration of £90m.

Marks & Spencer announces that it has entered into an irrevocable, non-discretionary arrangement with Morgan Stanley & Co. International PLC ("Morgan Stanley") to enable the purchase of Ordinary Shares during the period running from 8th July 2015 and ending no later than 4th December 2015, therefore running through Marks & Spencer's close period of 28th September 2015 to 3rd November 2015.

Any purchase of Ordinary Shares done in relation to this announcement will be carried out on the London Stock Exchange and executed in accordance with the Listing Rules and Marks & Spencer's general authority to make market purchases of Shares. Marks & Spencer will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, Ordinary Shares purchased under the Programme will be cancelled.

Morgan Stanley may undertake transactions in Shares (which may include sales and hedging activities, in addition to purchases) in order to manage its market exposure under the Programme.  Morgan Stanley will make any disclosures it is legally required to make in relation to such transactions.

Contact:

M&S Corporate PR                                              0208 718 1919     

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

 

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