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Domino's Pizza UK to repurchase up to £32m of its shares
Domino's Pizza Group announced on Friday that, until 31 December, it will commence a discretionary programme to purchase up to £32m of its ordinary shares.
The FTSE 250 company, which holds the master franchise for the Domino's Pizza brand in the UK, Ireland, Germany, Switzerland, Liechtenstein and Luxembourg, said the £32m represented the balance remaining of the £50m, less the £18m purchased by the firm in the year to date, as it announced on 8 March.
It said the purpose of the programme was to reduce its share capital, and accordingly the company intended to cancel the ordinary shares purchased under the programme.
"Any purchases will be conducted in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions," the Domino's board said in its statement.
"The company confirms that it currently has no unpublished inside information."
The aggregate maximum consideration payable by the company in respect of the purchase of shares under the programme up to 31 December would be £32m.
The maximum number of shares that could be purchased under the programme would be 49,196,705 - being the number of shares able to be purchased under the 2017 authority - less the 10,480,070 shares purchased to date under that authority.