Currys Plc Finalizes Share Buyback Program with 603,284 Shares Cancelled, Reducing Share Capital

Currys Plc and Share Buyback Authorization Background

Currys Plc, a leading UK consumer electronics and home technology retailer, announced the completion of its share buyback programme on 21 July 2026. This programme was approved by shareholders at the Annual General Meeting on 4 September 2025 and publicly announced on 2 July 2026. The buyback served as a capital management strategy to enhance shareholder value by reducing the number of shares outstanding. The repurchases were conducted over a five-day trading period, reflecting a disciplined approach to implementing the buyback.

Operating across the UK, Currys Plc focuses on selling electrical appliances, computing devices, and home technology products. The share repurchase initiative aims to optimize capital structure and increase shareholder returns by lowering share count and improving earnings per share. This recent buyback is part of the company’s broader capital allocation framework.

Details of Weekly Share Repurchase and Pricing

Between 14 and 20 July 2026, Currys Plc repurchased shares across four main trading platforms. On 14 July, 73,518 shares were bought at an average price of 160.52 pence, with a daily price range of 159.50 to 161.00 pence. On 15 July, 36,476 shares were acquired at an average price of 159.66 pence, trading between 159.20 and 160.00 pence. These initial purchases set the pricing foundation.

The largest volume occurred on 16 July, with 221,278 shares purchased at an average price of 161.10 pence, the highest daily average price during the programme. Prices ranged from 160.00 to 162.00 pence that day. On 17 July, the company bought 246,218 shares at an average of 160.50 pence. The programme concluded on 20 July with 25,794 shares repurchased at an average price of 159.34 pence, the lowest price recorded during the week at 158.80 pence. Overall, share prices remained stable within a narrow band of approximately 320 basis points throughout the buyback.

Total Shares Bought Back and Market Execution Breakdown

While the company did not specify the total repurchase amount in the announcement, the weighted average price across all trading venues was 160.66 pence per share, with a cumulative volume of 603,284 shares. Execution was spread over four trading platforms: XLON (London Stock Exchange) accounted for 256,003 shares at 160.66 pence; CHIX handled 84,661 shares at 160.52 pence; BATE (Cboe Europe) traded 233,025 shares at 160.63 pence; and TRQX (Cboe Europe) executed 29,595 shares at 160.53 pence. This multi-venue approach ensured best execution and minimized market impact.

Panmure Liberum Limited, acting as the intermediary, facilitated the buyback with trades executed continuously from market open at 08:00 BST to close at 16:30 BST. Trade sizes varied from single shares to blocks exceeding 7,000 shares, demonstrating flexible order sizing to maintain market stability. The consistent pricing within a tight range indicates effective execution and orderly market conditions throughout the programme.

Impact on Capital Structure and Share Count Reduction

Following cancellation of the repurchased shares, Currys Plc’s issued ordinary share capital has been reduced to 1,092,602,386 shares, with no shares held in treasury. This permanent cancellation reduces the total voting rights and affects per-share metrics such as earnings per share. The updated voting rights figure is critical for shareholders when assessing notification obligations under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

By cancelling rather than holding shares in treasury, Currys Plc has definitively lowered its equity base, increasing the proportional ownership of remaining shareholders. This accretive effect on earnings per share is a key rationale behind the buyback strategy within the retail sector.

Regulatory Compliance and Disclosure Details

The buyback was conducted in full compliance with regulatory requirements. Currys Plc, identified by LEI 2138001E12GWLLDQQF16 and ISIN GB00B4Y7R145, classified under RNS code 2.4 for own share acquisitions, engaged Panmure Liberum Limited (intermediary code PMURGB3L) to execute the programme. Detailed disclosures include individual trade timestamps, volumes, and prices, all denominated in British pence and timestamped in BST, ensuring transparency for market participants and regulators.

This granular reporting meets FCA mandates and reassures stakeholders that the buyback was executed fairly and efficiently in line with all applicable rules.

Currys Plc’s Operational Environment and Capital Strategy

Currys Plc operates in a dynamic UK consumer electronics and home technology market characterized by structural shifts, intense competition, and digital innovation. The company sells a wide range of electrical goods, including computing devices, smartphones, TVs, kitchen appliances, and smart home products, through both physical stores and online channels. Capital management tools like share buybacks reflect management’s confidence in the business fundamentals and financial position relative to growth and shareholder returns.

The timing of the buyback indicates management’s view that the share price offered value compared to other cash uses. The narrow price range during the five-day period (158.80 to 162.00 pence) suggests a stable market environment that facilitated orderly execution. Currys Plc continues to navigate challenges such as evolving consumer behavior, competitive pressures, supply chain issues, and the need for capital efficiency alongside investments in technology and stores.

Share Price Range and Execution Timing Insights

Share prices during the buyback ranged from a low of 158.80 pence on 20 July 2026 to a high of 162.00 pence on 16 July 2026, representing a 202 basis point (1.27%) increase over the week. The weighted average price was 160.66 pence. The lowest prices occurred on the final day, possibly reflecting end-of-week trading dynamics, while the highest average price was midweek on 16 July.

Execution timing and price trends indicate that Currys Plc and its intermediary achieved competitive pricing within the observed range. Trades were executed continuously throughout each trading day using multiple venues and varied order sizes, aligning with best execution practices to minimize market impact and avoid signaling large buyback intentions.

Sector Trends and Retail Market Factors Influencing Currys Plc

The consumer electronics and home technology retail sector is shaped by technology refresh cycles, seasonal sales peaks, and the shift toward e-commerce and omnichannel retailing. Supply chain factors, currency fluctuations, interest rates, and consumer credit availability also materially affect profitability and demand. Regulatory changes related to product safety, environmental responsibility, and data privacy add operational complexity.

Currys Plc’s buyback should be viewed within this context, reflecting management’s evaluation of capital deployment opportunities relative to growth investments, debt management, and shareholder returns amid a competitive retail landscape.

Voting Rights and Shareholder Notification Implications

The reduction to 1,092,602,386 ordinary shares impacts the calculation of voting rights and shareholder notification thresholds under FCA rules. As the denominator for voting rights decreases, shareholders’ percentage interests increase proportionally, potentially triggering notification requirements when crossing thresholds (e.g., 3%, 4%, 5%). Shareholders must recalculate their holdings based on the updated share count to ensure compliance.

This announcement serves as formal notice for shareholders to adjust their voting rights calculations accordingly.

Investor Relations Contact Information

Investors seeking further details on the buyback and share capital changes can contact Dan Homan, Investor Relations Director at Currys Plc, via telephone at +44 (0)7401 400 442. Providing direct contact supports transparent communication and facilitates investor inquiries regarding capital management activities.

Accessible investor relations contacts enable efficient dialogue on share repurchases, capital structure, and shareholder returns.