Dunelm Group plc commences an Equity Buyback Plan for 5,000,000 shares, representing 2.46% of its issued share capital, under the authorization approved on November 16, 2021.
November 18, 2021 at 02:00 am EST
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Dunelm Group plc (LSE:DNLM) commences share repurchases on November 18, 2021, under the program mandated by the shareholders in the Annual General Meeting held on November 16, 2021. As per the mandate, the company is authorized to repurchase up to 5,000,000 shares, representing 2.46% of its issued share capital. The minimum price which may be paid for each ordinary share is ?0.01 pence and the maximum price which may be paid for each ordinary share is the higher of an amount equal to 105% of the average of the middle market quotations for an ordinary share, as derived from the London Stock Exchange Daily Official List, for the five business days immediately preceding the day on which the ordinary share is purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System. The Company may either retain any of its own ordinary shares which it has purchased as treasury shares with a possible re-issue at a future date, or cancel them. The authority shall expire at the earliest of the conclusion of the next Annual General Meeting, or on December 31, 2022, whichever is earlier. As of October 14, 2021, the company had 203,085,964 ordinary shares in issue and 136,487 shares in treasury.
On November 18, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares for ?40 million. The purpose of the program is to satisfy employee share-based award obligations. The shares repurchased by the company will be held in treasury pending re-issue. No shares will be cancelled.
Dunelm Group plc is a United Kingdom-based homewares retailer. The Company offers a distinctive and specialist product portfolio through a retail system that combines physical stores and digital channels. It offers a range of products, spanning multiple homewares and furniture categories, and including services such as made to measure window treatments. It provides curtains, Roman blinds and cushions made in its own United Kingdom factory. The Company offers various brands, including Dorma, Pausa, Fogarty, and others. Dorma brand provides bedding, curtains, cushions, and homewares. Its Pausa cafes serve customers, colleagues, and local communities. The Fogarty brand includes pillows and quilts. It has an online offer through dunelm.com which includes home delivery and click and collect options. It predominantly sells specialist own-brand products. It has about 152 stores, which include Pausa coffee shops, where customers are provided with a range of hot and cold food and drinks.
Dunelm Group plc commences an Equity Buyback Plan for 5,000,000 shares, representing 2.46% of its issued share capital, under the authorization approved on November 16, 2021.