Share Repurchase Programme

RNS Number : 2760N

WH Smith PLC

31 August 2011

 



31 August 2011

WH Smith PLC

                                                Share Repurchase Programme

In October 2010, WH Smith PLC announced a share repurchase programme for the financial year to 31 August 2011 of £50 million. This programme was completed on 11 August 2011. This programme was then extended by a further £5 million which was completed on 26 August 2011.

The Board has decided to instigate a further share repurchase programme of up to £50 million for the financial year to 31 August 2012. In light of current market conditions, the Board believes it is appropriate to maintain flexibility on the timing of any purchases and will commence a non-discretionary programme to purchase ordinary shares for cancellation during its close period which commences on 1 September 2011 and is scheduled to end on 13 October 2011.

The buy back programme will be managed by an independent third party, which makes its trading decisions independently of, and uninfluenced by, the Company.  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 be limited to no more than 5 per cent above the average market value for the shares as derived from the London Stock Exchange Daily Official List for the five business days immediately prior to such purchase.

The Company confirms that it currently has no unpublished price sensitive information.

-ENDS-

Enquiries:

WH Smith PLC

Mark Boyle                 Investor Relations      020 7851 8820

Nicola Hillman           Media Relations        020 7851 8850

Brunswick

Simon Sporborg                                           020 7404 5959

 

END

 

 

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