31 March 2025
Wickes Group Plc ("Wickes" or the "Company")
Notification of Share Buyback Programme
Pursuant to the release of its Full Year results on 20 March 2025, Wickes is pleased to announce the commencement of a second share buyback programme (the "2025 Programme").
The 2025 programme will be for a maximum aggregate market value equivalent to £20,000,000 (excluding any associated costs and stamp duty) which will be bought back in the form of the Company's ordinary shares.
The 2025 Programme will comprise two tranches, each for a maximum aggregate market value equivalent to £10,000,000. The first tranche ("Tranche One") will commence on 31 March 2025 and will end on or before 31 July 2025 and the second tranche ("Tranche Two") will commence following completion of Tranche One on or around 1 August 2025 and will end on or before 31 December 2025. The sole purpose of the 2025 Programme is to reduce the Company's share capital. The Company intends to cancel any shares purchased.
The Company has entered into non-discretionary instructions with Investec Bank plc ("Investec") to conduct Tranche One and Peel Hunt LLP ("Peel Hunt") to conduct Tranche Two on its behalf. Under these arrangements, Investec and Peel Hunt will act as principal and make trading decisions independently of the Company.
The 2025 Programme will take place within the limitations of the authority granted to the Board of the Company by its relevant annual general meeting (the "AGM") which at the date of this announcement is 19,966,317 ordinary shares. The maximum aggregate number of shares to be purchased will be updated to reflect the authority granted to the Board at the 2025 AGM to be held on 8 May 2025.
The 2025 Programme will take place in accordance with the Market Abuse Regulation (596/2014) as it forms part of domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended) and Chapter 12 of the Financial Conduct Authority's Listing Rules.
For further information please contact:
Holly Grainger
Director of Investor Relations
+44 (0) 7341 680426
holly.grainger@wickes.co.uk
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