Transaction in own shares

RNS Number : 8173T

Wincanton PLC

23 July 2015

 

For Immediate Release

23 July 2015

Wincanton plc

('Wincanton' or the 'Company)

Transaction in own shares

Wincanton plc announces the launch of an ordinary share buy-back programme (the "Share Buy-back") which will commence with effect from today and will conclude on 31 December 2015 (unless terminated earlier). The Share Buy-back will be conducted in accordance with the authorisation granted to the Company by shareholders at the Annual General Meeting (AGM) held on 16 July 2015. It is intended that the ordinary shares bought back under the Share Buy-back will be held in treasury, in addition to 4,737,118 already currently held in treasury, to satisfy the future exercise of awards under the Company's employee share incentive schemes.

Any purchases made pursuant to the Share Buy-back will be effected over the period within certain pre-set parameters and limits approved at the Company's AGM held on 16 July 2015.

The main parameter is that the maximum price paid is to be limited to no more than the higher of (i) an amount equal to 105 per cent. of the average middle market quotations for an ordinary share in the Company as derived from The London Stock Exchange Daily Official List for the 5 business days immediately preceding the date on which such share is contracted to be purchased and (ii) the amount stipulated by Article 5(1) of the EU Buy-Back and Stabilisation Regulation (being the higher of the price of the last independent trade and the highest current independent bid for an ordinary share in the Company on the trading venues where the market purchases by the Company pursuant to the authority conferred by the shareholders will be carried on).

Notification will be made of any purchases made pursuant to the Share Buy-back in accordance with Listing Rule 12.4.6.

ENDS

For further information please contact:

Wincanton plc
Eric Born, Chief Executive
Adrian Colman, Group Finance Director and Chief Executive Designate                                 01249 710 000

Buchanan
Richard Oldworth, Gabriella Clinkard, Jane Glover                                                                           020 7466 5000   

 

END

 

 

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