NEXT plc (LSE:NXT) commences share repurchases on January 24, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 20, 2021. As per the mandate, the company is authorized to repurchase up to 19,929,000 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for each ordinary share will not be less than £0.1, the nominal value of each ordinary share and the maximum price which may be paid for each ordinary share will not be more than 105% above the average middle market quotations for the ordinary shares taken from the daily official list of the London Stock Exchange for the five business days immediately before the date of purchase and higher of the price of the last independent trade of an ordinary share of the company and the highest current independent bid for an ordinary share of the company as derived from the London Stock Exchange trading system.

The repurchased shares will be cancelled. This program will expire at the conclusion of the next Annual General Meeting of 2022 or on August 20, 2022, whichever is earlier. As of March 31, 2021, the company had 132,949,276 shares in issue.