Wincanton PLC Transaction in own shares (8173T)
July 23 2015 - 2:00AM
UK Regulatory
TIDMWIN
RNS Number : 8173T
Wincanton PLC
23 July 2015
For Immediate Release 23 July 2015
Wincanton plc
('Wincanton' or the 'Company)
Transaction in own shares
Wincanton plc announces the launch of an ordinary share buy-back
programme (the "Share Buy-back") which will commence with effect
from today and will conclude on 31 December 2015 (unless terminated
earlier). The Share Buy-back will be conducted in accordance with
the authorisation granted to the Company by shareholders at the
Annual General Meeting (AGM) held on 16 July 2015. It is intended
that the ordinary shares bought back under the Share Buy-back will
be held in treasury, in addition to 4,737,118 already currently
held in treasury, to satisfy the future exercise of awards under
the Company's employee share incentive schemes.
Any purchases made pursuant to the Share Buy-back will be
effected over the period within certain pre-set parameters and
limits approved at the Company's AGM held on 16 July 2015.
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 and (ii)
the amount stipulated by Article 5(1) of the EU Buy-Back and
Stabilisation Regulation (being the higher of the price of the last
independent trade and the highest current independent bid for an
ordinary share in the Company on the trading venues where the
market purchases by the Company pursuant to the authority conferred
by the shareholders will be carried on).
Notification will be made of any purchases made pursuant to the
Share Buy-back in accordance with Listing Rule 12.4.6.
ENDS
For further information please contact:
Wincanton plc
Eric Born, Chief Executive
Adrian Colman, Group Finance Director and Chief Executive
Designate 01249 710 000
Buchanan
Richard Oldworth, Gabriella Clinkard, 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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