DJ Fix Price announces buyback programme
Fix Price Group Ltd. (FIXP) Fix Price announces buyback programme 24-Jan-2022 / 09:10 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
Fix Price announces buyback programme
24 January 2022 - Fix Price (LSE and MOEX: FIXP, the "Company"), one of the leading variety value retailers globally and the largest in Russia, announces its intention to conduct a buyback of its Global Depositary Receipts ("GDRs") totalling up to RUB 4.0 billion over a period of up to 6 months (the "Programme").
Amid the current economic and capital markets environment, the Company believes that its market capitalisation understates the fundamental value of the business. This creates an attractive opportunity to distribute cash to GDR-holders through the Programme.
The Company has entered into an agreement with JSC VTB Capital ("VTBC") to manage the Programme, pursuant to which VTBC will purchase GDRs (acting as principal) on Moscow Exchange for the buyback period with subsequent repurchase of the GDRs by the Company. VTBC will make trading decisions under the Programme independently of the Company. It is anticipated that the buyback under the Programme will commence on or about 24 January 2022 and continue until approximately 23 July 2022. Purchases may take place at any time during this period, subject to applicable laws and regulations.
GDRs purchased under the Programme will be held in treasury and may be used inter alia to enable the Company to fulfil obligations arising from potential employee share option programmes, or may subsequently be cancelled.
The Programme will be conducted in accordance with the Market Abuse Regulation (596/2014) and certain pre-set parameters relating to price and volume consistent with those set out in Commission Delegated Regulation (2016/1052), as those regulations apply in the UK.
Information on transactions under the Programme will be disclosed on a regular basis in accordance with applicable laws and regulations.
About the Company
Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, has helped its customers save money every day since 2007. Fix Price offers its customers a unique and constantly refreshed product assortment of non-food goods, personal care and household products and food items at low fixed price points.
Today there are more than 4,900 Fix Price stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers.
In 2020, the Company recorded revenue of RUB 190.1 billion, EBITDA of RUB 36.8 billion and net profit of RUB 17.6 billion, in accordance with IFRS.
Contacts
Fix Price Investor Relations Fix Price Media Relations Elena Mironova Ekaterina Lukina ir@fix-price.com elukina@fix-price.ru +7 495 902 50 00 (ext. 1918) +7 967 009 32 70 EM Dmitry Zhadan Peter Morley Ekaterina Shatalova zhadan@em-comms.com morley@em-comms.com shatalova@em-comms.com +7 916 770 8909 +43 676 684 5252 +7 915 321 8579
-----------------------------------------------------------------------------------------------------------------------
ISIN: US33835G2057 Category Code: MSCU TIDM: FIXP LEI Code: 549300EXJV1RPGZNH608 OAM Categories: 2.2. Inside information Sequence No.: 138278 EQS News ID: 1271786 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1271786&application_name=news
(END) Dow Jones Newswires
January 24, 2022 01:10 ET (06:10 GMT)
