Sports Direct International Plc Share Buyback Programme Update (2150N)
October 21 2016 - 10:35AM
UK Regulatory
TIDMSPD
RNS Number : 2150N
Sports Direct International Plc
21 October 2016
Released: 21 October 2016
Sports Direct International Plc
21 October 2016
SPORTS DIRECT INTERNATIONAL PLC ("Sports Direct" or "the
Company")
SHARE BUYBACK PROGRAMME UPDATE
Programme Update
Further to the announcement made by the Company on 9 September
2016, the Company announces that it intends to continue its share
buyback programme from today's date for the remainder of its
current financial year ending on 30 April 2017 (the
"Programme").
The maximum number of shares that may be purchased under the
Programme will be 87,149,097 ordinary shares, being the maximum
number of shares that may be purchased under the authority granted
to the Company by shareholders at the Company's annual general
meeting on 7 September 2016 less the total number of shares
purchased under that authority to date. The aggregate purchase
price of all shares acquired under the Programme will be no greater
than GBP261,447,291.
As part of the Programme, the Company further announces that it
has instructed Citigroup Global Markets Limited in relation to an
irrevocable, non-discretionary share buyback programme to purchase
the Company's shares during its forthcoming closed period, which
commences on 21 October 2016 and will end no later than 8 December
2016 (the "Closed Period Programme").
The maximum number of shares that may be purchased under the
Closed Period Programme will be 29,697,251 ordinary shares and the
aggregate purchase price of all shares acquired under the Closed
Period Programme will be no greater than GBP89,091,753. For the
avoidance of doubt, the total number of shares purchased under the
Closed Period Programme and the aggregate price paid for those
shares will be counted towards the limits for the Programme set out
above.
The purpose of the Programme and the Closed Period Programme is
to reduce the share capital of the Company.
Each of the Programme and the Closed Period Programme will be
conducted within certain pre-set parameters, and in compliance with
the relevant conditions for trading, restrictions regarding time
and volume, disclosure and reporting obligations, and price
conditions. The shares repurchased by the Company will be held in
treasury pending cancellation or re-issue.
Ends.
Sports Direct International plc
Matt Pearson, Acting Chief Financial Officer
T. 0344 245 9200
E. investor.relations@sportsdirect.com
KBA PR
Keith Bishop
T. 0207 734 9995
E. sd@kbapr.com
This information is provided by RNS
The company news service from the London Stock Exchange
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