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Domino's Pizza Group plc (LON:DOM) has initiated a share buyback programme, which will run from today until 29 December 2024. The programme authorizes the purchase of up to £20 million worth of the Company’s ordinary shares of 25/48 pence each (the "Ordinary Shares"). The primary objective of this buyback is to reduce the Company’s share capital by canceling the purchased shares.
Programme Details
- Purpose: The buyback programme aims to enhance shareholder value by reducing the number of outstanding shares.
- Maximum Consideration: Up to £20 million can be spent on purchasing shares under the programme.
- Maximum Number of Shares: The programme allows for the purchase of a maximum of 39,474,242 Ordinary Shares.
- Duration: The programme is set to last until 29 December 2024.
Compliance and Management
- Regulatory Compliance: The purchases will adhere to relevant trading conditions, time and volume restrictions, disclosure and reporting obligations, and price conditions.
- Authority: The programme is conducted under the authority granted by the shareholders at the Annual General Meeting held on 1 May 2024. This authority is valid until the end of the next Annual General Meeting in 2025 or, if earlier, until 1 August 2025.
- Broker: Numis Securities Limited ("Deutsche Numis") has been appointed to manage the programme. The Company has issued an irrevocable instruction to Deutsche Numis to conduct the programme within pre-set parameters during any closed periods.
Impact and Goals
The buyback programme is part of Domino's strategy to optimize capital structure and improve shareholder returns. By reducing the share capital, the Company aims to increase the value of the remaining shares and enhance overall shareholder value.
