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LONDON - Kingfisher (LON:KGF) plc, a prominent home improvement company, has launched a share repurchase program, marking the first tranche of a broader £300 million initiative aimed at reducing its share capital. The company has appointed Goldman Sachs International (GSI) to execute the purchase of its shares for cancellation, with the process starting today and concluding by June 23, 2025.
The allocated budget for this initial tranche is capped at £50 million, excluding expenses. Kingfisher has confirmed that the repurchase will adhere to pre-set parameters and comply with both the UK’s Market Abuse Regulation and the UK Listing Rules. The company also stated that it does not possess any undisclosed price-sensitive information at this time.
This repurchase program follows the company’s announcement on March 25, 2025, and is in accordance with the authority granted by Kingfisher’s shareholders at the Annual General Meeting held on June 20, 2024. Since that date, Kingfisher has canceled 72,904,723 shares following previous purchases. It’s important to note that the buyback will not include the company’s American Depositary Receipts.
The maximum number of shares that could potentially be repurchased under this tranche is 114,484,144 ordinary shares of 15 5/7 pence each. This buyback initiative is part of Kingfisher’s ongoing efforts to manage its capital structure and deliver value to its shareholders.
The information in this article is based on a press release statement from Kingfisher plc.
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