FERG - Ferguson notifies share buyback program

• Ferguson ( NYSE: FERG ) said on Wednesday that in continuation of its $2.5B share repurchase program, it has entered into a non-discretionary pact with its brokers J.P. Morgan Securities PLC and J.P. Morgan Securities LLC commencing from October 5, 2022 and ending no later than December 16, 2022.
• The maximum pecuniary amount allocated to this tranche of the Program is £102 million.
• JPMS, an independent third party, will make trading decisions concerning the timing of the purchases of the Company's shares independently of the Company.
• JPMS will carry out the instruction through the acquisition by JPMS, as principal for resale to, or agent on behalf of, the Company, of ordinary shares in the Company.
• The value of shares repurchased by the Company under the Program pursuant to the various arrangements entered into with its brokers will not, in aggregate, exceed $2,500M.

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