Signet Announces $300 Million Share Repurchase Program
Signet Jewelers Ltd (NYSE: SIG), today announced that its Board of Directors has authorized a program to repurchase up to $300 million of Signet's common shares.
The repurchase program will be funded through the Company's existing cash balances. Repurchased shares may be used by the Company for general corporate purposes. Repurchases may be made from time to time in the open market, through block trades or otherwise. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion, and will be subject to economic and market conditions, stock prices, applicable legal requirements and other factors.
The program may be commenced, suspended or discontinued at any time without notice. Reflecting the Company's customary trading "quiet periods," the Program will be effective from January 16, 2012, and will last 24 months from that date.
