Statement re. (CMA)

18 September 2015

POUNDLAND GROUP PLC

Statement on the Competition and Markets Authority's Decision to Clear Poundland's Proposed Acquisition of 99p Stores

The UK Competition and Markets Authority ("CMA") has today published its final report in relation to its Phase 2 review of the proposed acquisition of 99p Stores Ltd ("99p Stores") by Poundland Group plc ("Poundland"). Following its provisional decision on 25 August to clear the acquisition, it has now given full clearance. 

Poundland welcomes this decision and will now move to complete the acquisition of 99p Stores by the end of September. Further information on its plans for 99p Stores will be given in conjunction with its interim results on 19 November 2015.

Jim McCarthy, Chief Executive of Poundland, said:

"We welcome the CMA's decision to clear the merger. We believe that the acquisition of 99p Stores will be great for both customers and for shareholders and we will now move to completion by the end of the month."

Further information on the CMA's investigation into Poundland's proposed acquisition of 99p Stores is available at: https://www.gov.uk/cma-cases/poundland-99p-stores-merger-inquiry.