Ferguson PLC Announces Transaction in Own Shares

Rhea-AI Summary

Ferguson plc announced the repurchase of 80,000 ordinary shares at £91.52 each on May 11, 2021, as part of its $400 million share buyback program initiated on March 16, 2021. This repurchase brings the total shares held in treasury to 8,487,542, with 223,683,640 ordinary shares remaining in circulation. This share buyback aims to enhance shareholder value and may influence future interest notifications under the Disclosure and Transparency Rules.

Positive

• Continued execution of a $400 million share repurchase program signifies commitment to returning value to shareholders.
• Purchase of 80,000 shares may boost earnings per share by reducing the total number of shares outstanding.

Negative

• None.

WOKINGHAM, UK / ACCESSWIRE / May 12, 2021 / Ferguson plc (the "Company") (LSE:FERG)(NYSE:FERG) announces that on May 11, 2021 it purchased for Treasury the following number of its ordinary shares of 10 pence each pursuant to its $400 million share repurchase programme, details of which were announced on March 16, 2021.

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

Number of shares repurchased: 80,000

Date of transaction: May 11, 2021

Price paid per share: £91.52000

Broker: Barclays Capital Securities Limited

The Company intends to hold these Shares in Treasury.

Including Shares which have been purchased but not yet settled, the Company holds 8,487,542 Shares in Treasury.

Following the purchase of these shares, the remaining number of ordinary shares in issue will be 223,683,640

The figure of 223,683,640 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/2887Y_1-2021-5-11.pdf

For further information, please contact:

Ferguson plc

Bill Brundage, Chief Financial Officer	+1 757 223 6092
Mark Fearon, Director of Communications and Investor Relations	+44 (0) 118 927 3800
	+44(0) 7711 875070

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/646714/Ferguson-PLC-Announces-Transaction-in-Own-Shares

FAQ

What share repurchase did Ferguson plc announce on May 11, 2021?

Ferguson plc announced the repurchase of 80,000 ordinary shares at £91.52 each as part of its $400 million share buyback program.

How many shares does Ferguson plc hold in Treasury after the recent buyback?

After the recent buyback, Ferguson plc holds 8,487,542 shares in Treasury.

What is the total number of ordinary shares in issue for Ferguson plc post-repurchase?

Following the repurchase, the total number of ordinary shares in issue for Ferguson plc is 223,683,640.

What was the purpose of Ferguson plc's share repurchase program?

The purpose of Ferguson plc's share repurchase program is to enhance shareholder value.