WH Smith PLC Purchases of shares during closed periods (5897I)
August 31 2016 - 8:53AM
UK Regulatory
TIDMSMWH
RNS Number : 5897I
WH Smith PLC
31 August 2016
This announcement contains inside information.
WH Smith PLC (SMWH) - Share buy-back programme
WH Smith PLC
31 August 2016
PURCHASES OF SHARES DURING CLOSED PERIODS
WH Smith PLC (the "Company") announces that it has entered into
a non-discretionary arrangement with Barclays Bank PLC, acting
through its investment bank ("Barclays"). The arrangement allows
Barclays to purchase, up to 11,477,980 ordinary shares in the
Company during closed period of the Company arising between
the date hereof and 13 October 2016. These share purchases will
be made on the Company's behalf and in accordance with the
arrangement and shall be made independently of and uninfluenced by
the Company.
Any share purchases effected pursuant to the arrangement will be
subject to the terms of the arrangement with Barclays and in any
case will be effected in a manner consistent with both the general
authority vested in the Company to repurchase shares and Chapter 12
of the United Kingdom Listing Rules, which require that the maximum
price paid be limited to be no more than the higher of (i) 105 per
cent of the average middle market closing price of the Company's
ordinary shares for the five business days before the purchase is
made, and (ii) the higher of the price of the last independent
trade and the highest current independent bid on the trading venue
where the purchase is carried out. The aggregate purchase price
under this arrangement will not exceed GBP2 million.
The sole purpose of these share purchases is to reduce the
Company's share capital.
Further information on the Company can be found on our Internet
site: www.whsmithplc.co.uk.
Enquiries:-
WH Smith PLC
Mark Boyle
Investor Relations
020 7406 6320
This information is provided by RNS
The company news service from the London Stock Exchange
END
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