This announcement may contain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via the Regulatory Information Service, any inside information will be considered to be in the public domain.
1 August 2024
AO World PLC
EBT Market Purchase Programme
AO World PLC ("AO" or the "Company"), the UK's most trusted online electrical retailer, today announces that Apex Financial Services (Trust Company) Limited (the "Trustee"), as Trustee of the AO World Employee Benefit Trust (the "EBT") will shortly commence making market purchases of ordinary shares of £0.0025 each in AO ("Shares") (the "EBT Market Purchase Programme").
Purchases under the EBT Market Purchase Programme are for a maximum aggregate consideration of £11 million (inclusive of brokerage and dealing charges) which has been funded by the Company by way of gift.
Shares purchased under the EBT Market Purchase Programme will be used to satisfy existing, planned and anticipated options and awards under AO's employee share schemes, or as otherwise permissible within the terms of the EBT trust deed.
In connection with the arrangements in relation to the EBT Market Purchase Programme, interim accounts for the Company, prepared in accordance with section 838 of the Companies Act 2006, have been delivered to and are published on Companies House.
Enquiries:
Julie Finnemore
Company Secretary
AO World PLC
Tel: +44(0)1204 672400
Email: cosec@ao.com
About AO
AO World PLC, headquartered in Bolton and listed on the London Stock Exchange, is the UK's most trusted online electrical retailer, with a mission to be the destination for electricals. Our strategy is to create value by offering our customers brilliant customer service and making AO the destination for everything they need, in the simplest and easiest way, when buying electricals. We offer major and small domestic appliances and a growing range of mobile phones, AV, consumer electricals and laptops. We also provide ancillary services such as the installation of new and collection of old products and offer product protection plans and customer finance. AO Business serves the B2B market in the UK, providing electricals and installation services at scale. AO also has a WEEE processing facility, ensuring customers' electronic waste is dealt with responsibly.
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