RNS Number : 4016E
JD Sports Fashion PLC
10 April 2025
 

 

10 April 2025 JD SPORTS FASHION PLC

LAUNCH OF SHARE BUYBACK PROGRAMME

JD Sports Fashion plc (the Company) announces that it will commence a share buyback programme to purchase ordinary shares of £0.0005 each in the Company (the Shares) with an aggregate value of up to £100 million (the Programme). The Programme will therefore return up to £100 million to shareholders. The Programme will commence immediately today and is expected to complete no later than 31 July 2025.

The Company has entered into an irrevocable agreement (the Agreement) with Merrill Lynch International (BofA Securities) to undertake the Programme on the Company's behalf, with BofA Securities making market purchases, as riskless principal, of the Shares on the London Stock Exchange. BofA Securities will make trading decisions under the Programme independently of the Company, subject to: (i) certain parameters agreed between BofA Securities and the Company prior to the commencement of the Programme pursuant to the Agreement; and (ii) the Company's right to terminate the Agreement in certain customary circumstances. Any purchases of Shares contemplated by this announcement will be subject to the terms of the Agreement.

Shares acquired by BofA Securities under the Agreement will be sold on to the Company and will either be cancelled or held in treasury. The purpose of the Programme is to reduce the share capital of the Company. The maximum number of Shares that may be acquired under the Programme, as authorised by shareholders at the Company's 2024 annual general meeting on 4 July 2024 (the 2024 Shareholder Authority), is 518,313,575, being the amount of the 2024 Shareholder Authority not yet utilised as at the date of this announcement. The 2024 Shareholder Authority will expire at the close of business on 31 July 2025 or on the conclusion of the Company's 2025 annual general meeting, to be held on 2 July 2025, where the Company expects to seek renewal of the 2024 Shareholder Authority (the 2025 Shareholder Authority).

Any purchase of Shares under the Programme will be executed in accordance with the Company's general authority to purchase Shares pursuant to the 2024 Shareholder Authority and the 2025 Shareholder Authority (subject to shareholder approval), the assimilated UK Market Abuse Regulation 596/2014 and the assimilated Commission Delegated Regulation (EU) 2016/1052 (in each case as incorporated into the law of the United Kingdom by the European Union (Withdrawal) Act 2018 (as amended)), and Chapter 9 of the UK Financial Conduct Authority's UK Listing Rules.

Any purchase of Shares under the Programme will be announced by no later than 7.30 a.m. on the business day following the calendar day on which the relevant purchase occurred.

 

Enquiries:

  

JD Sports Fashion Plc                                    

Tel: 0161 767 1000

Andrew Higginson, Chair


Régis Schultz, Chief Executive Officer


Dominic Platt, Chief Financial Officer


Theresa Casey, General Counsel & Company Secretary


Mark Blythman, Director of Investor Relations


 

FGS Global

Tel: 0207 251 3801

Rollo Head


Jenny Davey


James Thompson


LEI: 213800HROV6Y9MUU8375



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCILMFTMTAMBTA