Transaction in Own Shares

RNS Number : 6777N

Walker Crips Group plc

16 June 2010

 



16 June 2010

Walker Crips Group plc ("Walker Crips" or "the Company")

Transaction in Own Shares

Walker Crips announces that it has commenced a share buy-back programme (the "Buy-Back Programme") to repurchase up to 300,000 of the Company's existing issued ordinary shares of 6 2/3 pence each ("Ordinary Shares") over the period until 16 July 2010.  Any Ordinary Shares repurchased under the Buy-Back Programme will count towards the Company's general buy-back authority (the "Authority") of 10 per cent of the Company's issue share capital, as approved at the Company's Annual General Meeting on 17 July 2009, and will be cancelled or held in Treasury. The Buy-Back Programme is intended to provide Walker Crips shareholders with additional liquidity.

The maximum price per Ordinary Share payable on any exercise of the Authority shall be the higher of (i) an amount equal to 105 per cent. of the average of the market value for an Ordinary Share as derived from the Daily Official List of the London Stock Exchange plc for the ten business days prior to making any purchase; and (ii) the higher of the price of the last independent trade and the highest current bid on the London Stock Exchange plc at the time the purchase is carried out. The minimum price payable shall be 6 2/3 pence per Ordinary Share, being the nominal value of an Ordinary Share.

Given the level of liquidity in the Company's shares, the Company may purchase more than 25 per cent. of the average daily volume as set out in Article 5(a) of the Buyback and Stabilisation Regulation.

For the avoidance of doubt, the Company will not repurchase any Ordinary Shares from members of the Walker Crips Board. Walker Crips also confirms that it currently has no unpublished price sensitive information.

Pursuant to the Buy-Back Programme, the Company announces that it purchased 40,000 of its Ordinary Shares on 15 June 2010 at a price of 46.75 pence per Ordinary Share. These Ordinary Shares will be held in Treasury.

Following this purchase and transfer to Treasury, the Company's issued share capital consists of 37,051,187 Ordinary Shares with each Ordinary Share carrying the right to one vote. The Company holds 490,000 Ordinary Shares in Treasury. Therefore, the total number of voting rights in the Company is 36,561,187.

Enquires:
Rodney Fitzgerald (CEO)		Tel: [phone]

 

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