Sports Direct Issues Statement On Share Buybacks - Quick Facts
(RTTNews) - Sports Direct International Plc (SDIPF.PK, SPD.L) stated that its board believes share buybacks are an important mechanism for maintaining an efficient but robust balance sheet for the benefit of the Group's shareholders.
"Our understanding of the importance of our shareholders and our actions towards them are in complete contrast to the actions of the board of Debenhams, past and present, whereby they ignored the wishes of shareholders, both major and minor, and offers of support, and completely destroyed shareholder value," Sports Direct said.
Earlier on Thursday, Sports Direct International Plc announced that it intends to commence a new share buyback programme from April 11 for the period up to and including 26 April 2019. The purpose of the programme is to reduce the share capital of the company. The aggregate purchase price of all shares acquired under the programme will be no greater than 15 million pounds. The maximum number of shares that may be purchased under the programme will be 5 million ordinary shares.
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