Frasers Group Proposes Share Buyback Plan

Frasers Group (GB:FRAS) has released an update.

Frasers Group PLC has announced a significant decrease in statutory profit before tax from £638.0m to £507.0m in its latest annual report, with adjusted profits before tax rising to £544.8m. The company has scheduled its Annual General Meeting (AGM) for September 18, 2024, and proposes a resolution to buy back shares from MASH Holdings Limited and MASH Beta Ltd, entities owned by the company’s controlling shareholder, Mike Ashley. The buyback aims to reduce the MASH Companies’ holding and will be conducted at market price, subject to AGM approval and compliance with UK Listing Rules.

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