13th Dec 2021 09:30
(Alliance News) - Frasers Group PLC announced on Monday that it intends to commence a new share buyback programme.
The Derbyshire-based retailer - owner of the Sports Direct, House of Fraser and Flannels chains - said the programme will begin on Monday and will conclude on the last trading day before the company's financial year-end on April 24.
The maximum number of shares that can be purchased under the programme is 10.0 million. The aggregate purchase price of all shares acquired under the programme will be no greater than GBP70.0 million.
Shares in Frasers were up 0.7% at 737.50 pence on Monday morning in London.
Frasers said the purpose of the programme is to reduce the share capital of the company. Repurchased shares will be held in treasure ahead of cancellation or re-issue.
The new programme follows a previous GBP70.0 million buyback that was announced in October and concluded last week.
By Heather Rydings; [email protected]
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