Share buy-back programme

RNS Number : 1413Q

WH Smith PLC

10 October 2013

 

Share buy-back programme

WH Smith PLC ("WH Smith" or the "Company") announces that it has entered into an arrangement with its broker, Merrill Lynch International, to commence on its behalf share repurchases under the Company's share repurchase programme ("Programme").

The Programme was approved by the Company's shareholders at its Annual General Meeting held on 23 January 2013 for up to a maximum of the lesser of 19,307,830 ordinary shares or 14.95 per cent of its issued ordinary shares, during the period commencing on 23 January 2013 and ending on the expiry of the Company's existing shareholder authority to purchase the shares at the next AGM or at close of business on 28 February 2014, whichever is the earlier.

It is intended that any shares purchased under this arrangement will be cancelled.

Any share repurchased under the Programme will be effected in accordance with the Company's general authority to repurchase shares and Chapter 12 of the UKLA Listing Rules which requires that the maximum price is an amount not higher than  (i) 105 per cent  of the  average market value  of the  Company's shares for the five business days immediately preceding the date on which  the Company's shares are purchased and (ii) that stipulated by Article 5(1) of the Buy Back and Stabilisation Regulation.

 

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