Wincanton PLC Transaction in Own Shares (0389W)
February 03 2017 - 12:11PM
UK Regulatory
TIDMWIN
RNS Number : 0389W
Wincanton PLC
03 February 2017
For Immediate Release 3 February 2017
Wincanton plc
('Wincanton' or the 'Company)
Transaction in own shares
Wincanton plc announces its intention to make purchases of its
own shares commencing today until 31 March 2017 (unless terminated
earlier). The purchases will be conducted in accordance with the
authorisation granted to the Company by shareholders at the Annual
General Meeting (AGM) held on 21 July 2016.
It is intended that the ordinary shares purchased will be gifted
by the Company to the Wincanton Employee Benefit Trust in order to
satisfy future exercises of share option awards made to employees
under the Company's employee share incentive schemes.
Any purchases will be effected over the period within certain
pre-set parameters and limits approved at the Company's AGM held on
21 July 2016.
The main parameter is that the maximum price paid is to be
limited to no more than the higher of (i) an amount equal to 105
per cent. of the average middle market quotations for an ordinary
share in the Company as derived from The London Stock Exchange
Daily Official List for the 5 business days immediately preceding
the date on which such share is contracted to be purchased; (ii) an
amount equal to the higher of the price of the last independent
trade of an Ordinary Share and the highest current independent bid
for an Ordinary Share as derived from the London Stock Exchange
Trading System in each case at the time the purchase is agreed.
Notifications will be made when any share purchases have been
made in accordance with Listing Rules.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
ENDS
For further information please contact:
Wincanton plc
Tim Lawlor, Chief Financial Officer 01249 710 000
Buchanan
Richard Oldworth, Vicky Hayns, Jane Glover 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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