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Ferguson PLC - Share buy-back programme

RNS Number : 7418B
Ferguson PLC
11 June 2019



11 June 2019


Ferguson plc

Share buy-back programme

Ferguson plc (the "Company") announced on 10 June 2019 its intention to commence a US$500 million share buy-back programme (the "Programme").  The Company today announces that it has instructed its broker Barclays to purchase its shares (acting as principal) for immediate on-sale to the Company up to the value of US$500 million in aggregate, commencing from 11 June 2019. 


The Company's shareholders generally authorised the Company to purchase up to a maximum of 23,185,045 of its ordinary shares on 25 April 2019 (which authority was granted on the same terms as the corresponding authority granted by shareholders at the 2018 Annual General Meeting held on 29 November 2018). Pursuant to such authority, the Company intends to purchase shares during the period commencing 11 June 2019 and ending on the conclusion of its Annual General Meeting expected to be held in November 2019 (the "2019 AGM"). The Company anticipates that it will request a similar general authority from shareholders at the 2019 AGM and confirms that the Programme will end no later than 10 June 2020. The aggregate number of shares acquired by the Company pursuant to the Programme shall not exceed the maximum number of shares which the Company is authorised to purchase pursuant to such general authorities. It is intended that any shares repurchased under the Programme will be transferred into Treasury


The purpose of the Programme is to reduce the capital of Ferguson plc.  To the extent required, Ferguson plc may in future use the repurchased shares to satisfy employee share options.  Any purchases of shares by the Company in relation to the Programme will be carried out on the London Stock Exchange and in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase shares granted by its shareholders, the Market Abuse Regulation 596/2014, the Commission Delegated Regulation (EU) 2016/1052 and Chapter 12 of the Financial Conduct Authority's Listing Rules.


For further information please contact

Ferguson plc

Mike Powell, Chief Financial Officer

Tel:       +44 (0) 118 927 3800

Mark Fearon, Director of Corporate Communications and IR 

Mobile: +44 (0) 7711 875070


Brunswick (Media Enquiries)

Michael Harrison, Charlie Pretzlik

 Tel:     +44 (0)20 7404 5959




Notes to announcement

1.    About Ferguson plc

Ferguson plc is the world's largest specialist trade distributor of plumbing and heating products to professional contractors principally operating in North America and the UK. Ongoing revenue for the year ended 31 July 2018 was $20.75 billion and ongoing trading profit was $1.51 billion. Ferguson plc is listed on the London Stock Exchange (LSE: FERG) and is in the FTSE 100 index of listed companies. On 10 May 2019, the Group completed the simplification of its corporate structure pursuant to which Ferguson plc was introduced as the new parent company of the Group. For more information, please visit www.fergusonplc.com or follow us on Twitter https://twitter.com/Ferguson_plc 


2.    Financial calendar

Ferguson plc will announce its 2019 Full Year Results on 1 October 2019.


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 [email protected] or visit www.rns.com.

Quick facts: Ferguson PLC

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Market: LSE
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