RNS Number:8850G
Powderject Pharmaceuticals PLC
31 January 2003
For Immediate Release 31 January 2003
PowderJect Pharmaceuticals Plc
Shareholders Grant Authority to Purchase Own Shares
PowderJect Pharmaceuticals plc ("PowderJect" or the "Company") announces that at
today's Extraordinary General Meeting ("EGM") Shareholders approved a resolution
to provide the Company with the authority to purchase its own shares. The
Company intends to use this authority only when it considers it to be in the
best interests of Shareholders.
At the EGM PowderJect's Shareholders authorised the Company to make market
purchases of its own 10 Pence Ordinary Shares provided that:
1 the maximum number of Shares that may be purchased is 9,140,104
(representing 10 per cent of the Company's issued share capital as at 7 January
2003)
2 the minimum price exclusive of any expenses that may be paid for a
Share is 10 pence
3 the maximum price exclusive of any expenses that may be paid per
Share is 105 per cent of the average of the middle market quotations for a Share
as derived from the London Stock Exchange Daily Official List for the five
business days immediately preceding the day on which the Share is to be
purchased
4 unless previously revoked, varied or renewed, this authority expires
at whichever date is earlier: the Company's next Annual General Meeting or
twelve months from today
5 the Company may contract to purchase Shares prior to the expiry of
this authority, which may be executed wholly or partly after the expiry as if
the authority had not expired.
Enquiries:
PowderJect 01865 332600
Dr Paul Drayson, Chairman and Chief Executive
Rob Budge, Director Corporate Communications
Buchanan Communications 0207 466 5000
Tim Anderson
This information is provided by RNS
The company news service from the London Stock Exchange
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