Pets at Home has begun a new £50m share buyback programme.
The programme will run in two tranches. For the first tranche, the retailer has instructed Deutsche Bank AG to conduct a share buyback programme on the company’s behalf and to make trading decisions independently of the company for a maximum aggregate consideration of £25 million, to end on or before October 9, 2026, although the continuation of the scheme beyond the retailer’s 2026 annual general meeting, to be held on July 9, 2026, is subject to renewal at the meeting.
The sole purpose of the programme is to reduce the company’s total share capital, and any shares purchased will be cancelled.
Details of the second tranche of the programme will be announced in due course, says the company. The maximum number of shares which may be bought back under the scheme is 44,828,459.
