Ferguson PLC Announces Transaction in Own Shares

Rhea-AI Summary

Ferguson plc (LSE:FERG) has completed a share repurchase of 27,821 ordinary shares at a price of £99.14 each on June 16, 2021, under its $400 million share repurchase program. Following this purchase, the company holds a total of 9,111,710 shares in treasury. The total number of ordinary shares in issue will now be 223,059,472. This repurchase program, initiated to enhance shareholder value, allows shareholders to determine their interest under the Disclosure and Transparency Rules. For detailed information on the individual purchases, refer to the attached announcement.

Positive

• Implementation of a $400 million share repurchase program reflects confidence in the company's financial position.
• Reduction in the total number of shares outstanding may improve earnings per share (EPS) for remaining shareholders.

Negative

• None.

WOKINGHAM, UK / ACCESSWIRE / June 17, 2021 / Ferguson plc (the 'Company') (LSE:FERG)(NYSE:FERG) announces that on June 16, 2021 it purchased for Treasury the following number of its ordinary shares of 10 pence each pursuant to its $400 million share repurchase program, details of which were announced on March 16, 2021.

Description of shares: Ferguson plc - ordinary shares of 10 pence

Number of shares repurchased: 27,821

Date of transaction: June 16, 2021

Price paid per share: £99.140000

Broker: J.P. Morgan Securities plc

The Company intends to hold these Shares in Treasury.

Including Shares which have been purchased but not yet settled, the Company holds 9,111,710 Shares in Treasury.

Following the purchase of these shares, the remaining number of ordinary shares in issue will be 223,059,472.

The figure of 223,059,472 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), as it forms part of UK law by virtue of the European Union (Withdrawal) ACT 2018, detailed information about the individual purchases is attached to this announcement.

http://www.rns-pdf.londonstockexchange.com/rns/1619C_1-2021-6-16.pdf

For further information, please contact:

Ferguson plc

Bill Brundage, Chief Financial Officer	+1 757 223 6092
Brian Lantz, Vice President IR and Communications	+1 224 285 2410

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 rns@lseg.com or visit www.rns.com.

SOURCE: Ferguson plc

View source version on accesswire.com:
https://www.accesswire.com/652057/Ferguson-PLC-Announces-Transaction-in-Own-Shares

FAQ

What is the recent share repurchase amount by Ferguson plc?

Ferguson plc repurchased 27,821 shares for a total cost of £2,755,000.54 on June 16, 2021.

How does the share repurchase affect the total shares outstanding for Ferguson plc?

After the repurchase, the total number of ordinary shares outstanding will be 223,059,472.

Who was involved in the share repurchase transaction for Ferguson plc?

The broker involved in the transaction was J.P. Morgan Securities plc.

What is the price per share paid by Ferguson plc in the recent buyback?

The price paid per share in the recent buyback was £99.14.