Off-market purchases by way of contingent purchase contract by the Company of ordinary shares for cancellation
Next plc announces today that, pursuant to the contingent forward purchase contract it entered into with Barclays Bank Plc on 3 April 2012, it has today purchased 25,000 ordinary shares for cancellation at a price of 2894.49 pence per share.
Following this purchase, the Company's registered share capital consists of 165,231,864 ordinary shares of 10 pence each. All of the ordinary shares have equal voting rights and there are no shares held in Treasury. This figure may be used by shareholders to determine if they are required to notify their interest, or a change to their interest, in Next plc under the FSA's Disclosure and Transparency Rules.
A J R McKinlay
Under the contingent contract, the Company may purchase a fixed number of shares each week in the period to 30 October 2012, at a fixed price that is at a discount to the market price prevailing at the start of the contract period. The contract is contingent in that it would terminate early, and no further shares would be purchased, if the Company's share price increases to a pre-determined suspension level during the contract period. This suspension level has been set at the start of the contract and is between 104% and 110% of the Company's share price at the start of the contract.
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