Smiths City Group Limited authorizes a Buyback Plan.

EX SCGL Limited, formerly Smiths City Group Limited, is a holding company. The Company has two principal activities: Retail Trading, which is engaged in the retailing of consumer electronic products, kitchen appliances, home heating solutions, home furnishings and sporting goods through the Smiths City brand, and Finance, which is engaged in the provision of finance by Smiths City Finance Limited to support the retailing operation. It operates through three segments: retail, the financing of retail sales and property. The Company consists of approximately 30 Smiths City-branded stores throughout New Zealand, approximately four clearance centers and has a Furniture City, which has approximately three sites in the Auckland/Northland region. It represents a range of brands in-store and online, including Sleepyhead, Fisher & Paykel, and Cavalier Bremworth, along with international brands, such as La-Z-Boy, John Young Furnishings, Ashley, Samsung, Panasonic, Mitsubishi Electric and Bosch.