0001181431-12-040780.txt : 20120717 0001181431-12-040780.hdr.sgml : 20120717 20120717071601 ACCESSION NUMBER: 0001181431-12-040780 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120717 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120717 DATE AS OF CHANGE: 20120717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIGNET JEWELERS LTD CENTRAL INDEX KEY: 0000832988 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-JEWELRY STORES [5944] IRS NUMBER: 000000000 FISCAL YEAR END: 0129 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32349 FILM NUMBER: 12964667 BUSINESS ADDRESS: STREET 1: CLARENDON HOUSE STREET 2: 2 CHURCH STREET CITY: HAMILTON STATE: D0 ZIP: HM11 BUSINESS PHONE: 44-207-317-9700 MAIL ADDRESS: STREET 1: C/O 15 GOLDEN SQUARE CITY: LONDON STATE: X0 ZIP: W1F9JG FORMER COMPANY: FORMER CONFORMED NAME: SIGNET GROUP PLC DATE OF NAME CHANGE: 19931213 FORMER COMPANY: FORMER CONFORMED NAME: RATNERS GROUP PLC DATE OF NAME CHANGE: 19931213 8-K 1 rrd351124.htm Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  07/17/2012
 
SIGNET JEWELERS LIMITED
(Exact name of registrant as specified in its charter)
 
Commission File Number:  1-32349
 
Bermuda
  
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
Clarendon House
2 Church Street
Hamilton
HM11
Bermuda
(Address of principal executive offices, including zip code)
 
441 296 5872
(Registrant’s telephone number, including area code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
Item 8.01.    Other Events
 
On July 17, 2012, Signet Jewelers Ltd ("Signet" or the "Company") issued a press release which announced that its Board of Directors has authorized a $50 million increase in its existing program to repurchase Signet's common shares to $350 million. The new authorization runs concurrent with the existing program, which authorized the repurchase of up to $300 million common shares, and expires on January 15, 2014. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
 
 
Item 9.01.    Financial Statements and Exhibits
 
Exhibit 99.1        Press Release of Signet Jewelers Limited dated July 17, 2012.
 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
           
SIGNET JEWELERS LIMITED
 
 
Date: July 17, 2012
     
By:
 
/s/    Mark A Jenkins
               
Mark A Jenkins
               
Signet Company Secretary & Chief Legal Officer
 
 

 

EXHIBIT INDEX
 
Exhibit No.
  
Description
EX-99.1
  
EX-99 2 rrd351124_38075.htm Prepared by RR Donnelley SIGNET ANNOUNCES $50 MILLION INCREASE IN SHARE
REPURCHASE PROGRAM TO $350 MILLION

Hamilton, Bermuda, July 17, 2012 - Signet Jewelers Ltd ("Signet" or the "Company") (NYSE
and LSE: SIG), today announced that its Board of Directors has authorized a $50 million increase
in its existing program to repurchase Signet's common shares to $350 million.

Mike Barnes, Signet's Chief Executive Officer, commented: "The increase in our share repurchase
authorization reflects our commitment to build value for long-term shareholders, the continued
confidence we have in the strength of our business, and our ability to generate free cash flow after
investment in our growth initiatives."

The new authorization runs concurrent with the existing program, which authorized the repurchase
of up to $300 million common shares, and expires on January 15, 2014. As of July 13, 2012, prior
to the increased authorization, approximately $20.1 million remained available for repurchase under
the existing program, as a result of having repurchased an aggregate of 6.2 million common shares
at an average cost of $44.95 per common share. Signet currently has approximately 81.4 million
shares outstanding.

The repurchase program is 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 repurchase program maybe suspended or discontinued at any time without notice.

Enquiries:
Tim Jackson, Investor Relations Director, Signet Jewelers
+44 (0)20 7317 9700
Press:
Alecia Pulman, ICR, Inc.
+1 (203) 682 8224

Jonathan Glass, Brunswick
+44 (0)20 7404 5959

Signet operated 1,851 specialty retail jewelry stores at April 28, 2012, these included 1,320 stores in
the US, where its store concepts include "Kay Jewelers," "Jared The Galleria Of Jewelry," and a
number of regional names. At the same date, Signet also operated 531 stores in the UK, where its
store concepts are "H.Samuel," "Ernest Jones," and "Leslie Davis". Further information on Signet
is available at www.signetjewelers.com. See also www.kay.com, www.jared.com,
www.hsamuel.co.uk, and www.ernestjones.co.uk.

This release contains statements which are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements, based upon management's
beliefs and expectations as well as on assumptions made by and data currently available to
management, appear in a number of places throughout this release and include statements
regarding, among other things, Signet's results of operation, financial condition, liquidity, prospects,
growth, strategies and the industry in which Signet operates. The use of the words "expects,"
"intends," "anticipates," "estimates," "predicts," "believes," "should," "potential," "may,"
"forecast," "objective," "plan," or "target," and other similar expressions are intended to identify
forward-looking statements. These forward-looking statements are not guarantees of future
performance and are subject to a number of risks and uncertainties, including but not limited to
general economic conditions, the merchandising, pricing and inventory policies followed by Signet,
the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and
availability of diamonds, gold and other precious metals, regulations relating to consumer credit,
seasonality of Signet's business, financial market risks, deterioration in consumers' financial
condition, exchange rate fluctuations, changes in consumer attitudes regarding jewelry,
management of social, ethical and environmental risks, security breaches and other disruptions to
Signet's information technology infrastructure and databases, inadequacy in and disruptions to
internal controls and systems, changes in assumptions used in making accounting estimates relating
to items such as extended service plans and pensions, and risks relating to Signet being a Bermuda
corporation.

For a discussion of these and other risks and uncertainties which could cause actual results to differ
materially, see the "Risk Factors" section of Signet's Fiscal 2012 Annual Report on Form 10-K
filed with the U.S. Securities and Exchange Commission on March 22, 2012. Actual results may
differ materially from those anticipated in such forward-looking statements. Signet undertakes no
obligation to update or revise any forward-looking statements to reflect subsequent events or
circumstances, except as required by law.