Transaction in Own Shares

RNS Number : 7018F

Inchcape PLC

29 July 2016

 

29 July 2016

Inchcape plc - Share repurchase programme

Inchcape plc (the Company) announces that, in connection with the 12 month share buyback programme of up to £100 million which it announced on 28 July 2016, it is commencing a share buyback programme (the Programme) to purchase shares with a value of up to £50 million subject to remaining within the AGM authority (the 2016 AGM authority is for a maximum of 43,212,719 shares), during the period starting on 29 July 2016 and ending no later than 31 December 2016 (the Engagement Period) in order to reduce the capital of the Company. The Company has entered into an agreement with J.P. Morgan Securities plc (JPMS plc) under which JPMS plc shall manage the share buyback programme. JPMS plc will carry out the instruction through the acquisition of ordinary shares in the Company for subsequent repurchase by the Company. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.

JPMS plc may undertake transactions in Shares (which may include sales and hedging activities, in addition to purchases which may take place on any available trading venue or on an over the counter basis) during the Engagement Period in order to manage its market exposure under the Programme. Disclosure of such transactions will not be made by JPMS plc as a result of or as part of the Programme, but JPMS plc will continue to make any disclosures it is otherwise legally required to make.

Enquiries:
Tamsin Waterhouse
Company Secretary
Tel: [phone]

 

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