Information  X 
Enter a valid email address

2 ergo Group plc (MXCP)

  Print      Mail a friend

Wednesday 28 December, 2005

2 ergo Group plc

Share Buy Back

2 ergo Group plc
28 December 2005

Immediate Release                                               28 December 2005

                                2ergo Group plc
                           ('2ergo' or 'the Company')

                                 Share Buy Back

Following approval of the share buy back agreement by the Company's shareholders
at the Annual General Meeting of the Company held on 7 April 2005, the Company
is pleased to announce that a further 636,364 ordinary shares of 1p each in the
issued share capital of the Company were purchased on 22 December from Michael
Kilgannon and are to be held in treasury.

Following this purchase, Michael Kilgannon now holds 827,272 ordinary shares of
1p each, representing 2.93 per cent of the Company's issued share capital
(excluding shares held in treasury). The Company also holds a further option
over Mr Kilgannon's remaining shares at a price of 110p per share. The Company
now holds in treasury a total of 1,672,728 ordinary shares of 1p each and has in
issue 28,179,725 ordinary shares of 1p each, excluding those held in treasury.

The shares were purchased at a price of 110p per share, which the Board believes
represents excellent value for shareholders. Placing these shares into treasury
will enable the Company to use them to facilitate future transactions without
diluting existing shareholdings. The Board also expects the buy back to improve
the Company's earnings per share.

For further information, please contact:

2ergo Group 01706 221 777
Neale Graham, Joint MD
Barry Sharples, Joint MD

Tavistock Communications 020 7920 3150
Christian Taylor-Wilkinson
Matt Ridsdale

                      This information is provided by RNS
            The company news service from the London Stock Exchange