The shareholders of Debenhams plc (LSE:DEB) authorized a share repurchase program at its Annual General Meeting on January 10, 2012. Under the program, Debenhams will repurchase up to 128,680,629 shares, representing 10% of its issued share capital. The minimum price which may be paid per ordinary share will be its nominal value. The maximum price which may be paid for any ordinary share shall be equal to the amount 105% of the average of the closing price of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased. The share repurchase program will expire at the conclusion of the next Annual General Meeting or after 18 months, whichever is earlier, unless previously renewed, varied or revoked by the company in a general meeting. As of December 1, 2011, the company has 1,286,806,299 ordinary shares in issue.

On April 19, 2012, the company announced that it intends to repurchase shares worth £20 million over the next six months.

On October 25, 2012, the company announced that it intends to repurchase shares worth £40 million over the next 12 months.

On August 7, 2012, the company completed the initial tranche of £20 million.


Debenhams plc's share repurchase program expired on January 8, 2013. Under the plan, the company has repurchased 30,135,000 shares, representing 2.34% for £27.8 million.