Frasers Group Starts £100 Million Directed Share Buyback Programme

Frasers Group plc has announced the commencement of a directed trading programme to purchase up to £100 million of its ordinary shares from MASH Holdings and MASH Beta, entities controlled by Mike Ashley. The programme is being executed under authority granted at the company's annual general meeting on 16 September 2026. The Board stated that it believes the company is currently undervalued and intends to continue share buybacks until this value is fully reflected in the share price. As of 26 April 2026, the Group reported a net asset value of £2.5 billion, which the Board expects to be further bolstered by recent acquisitions, including HUGO BOSS.

The acquired shares will be held in treasury, and the transactions do not fall within the Market Abuse Regulation safe harbour.