WH Smith PLC Transaction in Own Shares (8803Q)
December 02 2016 - 1:30PM
UK Regulatory
TIDMSMWH
RNS Number : 8803Q
WH Smith PLC
02 December 2016
WH Smith PLC (SMWH) - Share buy-back programme
PURCHASES OF SHARES DURING CLOSED PERIODS
WH Smith PLC (the "Company") announces that it has entered into
a non-discretionary arrangement with Barclays Bank PLC, acting
through its investment bank ("Barclays"). The arrangement allows
Barclays to purchase, up to 112,239,222 ordinary shares in the
Company during closed period of the Company arising between the
date hereof and 25 January 2017. These share purchases will be made
on the Company's behalf and in accordance with the arrangement and
shall be made independently of and uninfluenced by the Company.
Any share purchases effected pursuant to the arrangement will be
subject to the terms of the arrangement with Barclays and in any
case will be effected in a manner consistent with both the general
authority vested in the Company to repurchase shares and Chapter 12
of the United Kingdom Listing Rules, which require that the maximum
price paid be limited to be no more than the higher of (i) 105 per
cent of the average middle market closing price of the Company's
ordinary shares for the five business days before the purchase is
made, and (ii) the higher of the price of the last independent
trade and the highest current independent bid on the trading venue
where the purchase is carried out. The aggregate purchase price
under this arrangement will not exceed GBP5 million.
The sole purpose of these share purchases is to reduce the
Company's share capital.
Further information on the Company can be found on our Internet
site: www.whsmithplc.co.uk.
Enquiries:-
WH Smith PLC
Mark Boyle
Investor Relations
020 7406 6320
This information is provided by RNS
The company news service from the London Stock Exchange
END
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