Frasers Group launches ‘Share Buyback Programme’
Frasers Group has launched a new ‘Share Buyback Programme’ of up to £80 million in a "non-discretionary arrangement" with Barclays to reduce the share capital of the company.
The maximum number of shares that may be purchased under the programme will be 10 million ordinary shares.
Any share purchases under the programme will be made on the company's behalf and "in accordance with the arrangement and shall be made independently of and uninfluenced by the company".
The shares repurchased by the company will be held in treasury pending cancellation or re-issue.
In May, Frasers Group announced it is heavily investing in its digital infrastructure to drive its next stage of growth with a new "cutting edge digital platform".
The investment will see the company sharpen the efficiency of its retail operations and customer e-commerce experience across its sports, premium and luxury brands.
