RNS Number : 4359O
16 September 2011
Off-market purchases by way of contingent purchase contract by the Company of ordinary shares for cancellation
Next plc announces today that, pursuant to the contingent forward purchase contract it entered into with Goldman Sachs on 15 July 2011, the suspension level has been exceeded and the contract terminated. Under this contract, the Company purchased a total of 200,000 ordinary shares for cancellation at a price of 2307.48 pence per share.
A J R McKinlay
Under the contingent contract, the Company may purchase a fixed number of shares each week in the period to 10 February 2012, at a fixed price that is at a discount to the market price prevailing at the start of the contract period. The contract is contingent in that it would terminate early, and no further shares would be purchased, if the Company's share price increases to a pre-determined suspension level during the contract period. This suspension level has been set at the start of the contract and is between 104% and 110% of the Company's share price at the start of the contract.
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