Temple & Webster Group Ltd (ASX:TPW) announces a share repurchase program. Under the program, the company will repurchase up to 12,294,970 shares, representing 10% of its issued share capital, for AUD 30 million. The prices paid for shares purchased under the buy-back will be no more than 5% above the volume-weighted average price of TPW shares over the five trading days prior to purchase.

The purpose of the program is to effective capital management while retaining financial flexibility to fund accretive organic and inorganic opportunities as part of its growth strategy. The repurchased shares will be cancelled. The program will expire on March 19, 2024.

As of March 16, 2023, the company has 122,949,702 shares in issue.