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Kingfisher Initiates Final Tranche of Share Buyback Program

LONDON – Kingfisher plc, a leading company in the home improvement sector, has launched the fifth and final part of its share repurchase initiative, allocating up to £75 million for buying back its shares. This program commenced today and is scheduled to conclude by March 24, 2025, with the primary objective of decreasing the company’s share capital.

As outlined by Kingfisher, the shares purchased in this latest tranche will be canceled post-repurchase. This action is part of a comprehensive buyback plan that was initially unveiled on September 19, 2023, which involves a total commitment of £300 million for share repurchases. To date, Kingfisher has successfully repurchased and canceled approximately 85,315,628 shares under this program.

Goldman Sachs International has been selected to oversee the share repurchase process, making independent trading decisions on behalf of Kingfisher. The company has assured investors that all transactions will comply with established guidelines, including the EU Market Abuse Regulation and the UK’s Listing Rules. Furthermore, Kingfisher has indicated that it is not in possession of any undisclosed, price-sensitive information at this time.

The focus of the repurchase initiative is exclusively on ordinary shares, with no planned repurchases of American Depositary Receipts. With the authority granted by shareholders during the Annual General Meeting on June 20, 2024, Kingfisher is permitted to repurchase a maximum of 144,799,115 ordinary shares.

This announcement stems from a press release and should not be interpreted as financial advice or an endorsement of Kingfisher’s business strategies. It aims to inform investors about the ongoing share repurchase program and its implications.

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