Non-discretionary share repurchase programme

RNS Number : 3855E

Paragon Group Of Companies PLC

15 July 2016

 

The Paragon Group of Companies PLC:

Non-discretionary share repurchase programme

The Paragon Group of Companies PLC (the "Company") announces that it has commenced, through UBS Limited, an irrevocable, non-discretionary programme to purchase shares on its own behalf, for putting into treasury, during the period from 18 July 2016 up to and including 30 September 2016.

Any acquisitions will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price paid to be limited to no more than 105 per cent of the average middle market closing price of the Company's shares for the 5 dealing days preceding the date of purchase.  The Company confirms that it currently has no unpublished price sensitive information.

These arrangements form part of the Company's share buy-back programme announced on 24 November 2015 and in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 11 February 2016.

Further enquiries:

Pandora Sharp, Company Secretary

0121 712 2075

 

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