Character Regulatory News (CCT)

30 Nov 2006 10:30

Character Group PLC30 November 2006 30 November 2006 The Character Group plc (the 'Group' or 'Company') Transaction in Own Shares The Company advises that it has yesterday purchased 1,000,000 ordinary shares inthe Company for cancellation in the market through Charles Stanley Securities,representing approximately 2.19% of the issued share capital of the Company(excluding shares held in treasury), at a price of 102 pence per share. These purchases follow on from the purchase by the Company of 1,696,000 ordinaryshares in the Company disclosed yesterday and brings the total number of sharesin the Company purchased by the Company in the last 48 hours to 2,696,000,representing approximately 6.03% of the current issued share capital (excludingshares held in treasury). Since June 2006, the Company has bought back in total8,515,322 shares representing approximately 19.04 % of the current issued sharecapital (excluding shares held in treasury). Following these transactions the Company has 44,720,837 ordinary shares in issue(excluding the 1,754,322 ordinary shares in the Company held in treasury). As part of the Group's stated objective to enhance shareholder value through therepurchase of its own shares, the Directors have been monitoring the Company'sshare price following the preliminary announcement of the Group's resultsannounced on Tuesday morning. The Board considered that the conditions wereright at this time to conduct a significant buy-back of the Company's shares. After purchasing such shares as were available in the market and in order tosatisfy the Company's requirement for such buy-back, the trustees of The TOPSPension Scheme (the "Pension Fund") and Richard King, the Executive Chairman ofthe Company, agreed to sell in the market 1,000,000 and 1,500,000 sharesrespectively at a price of 102 pence per share. Following such sales: 1. Richard King now has an interest in 3,845,428 shares in the Company, representing 8.6% of the current issued share capital of the Company (excluding his interests in the Pension Fund); and 2. the Pension Fund now holds 725,000 shares in the Company, representing 1.62% of the current issued share capital of the Company. Richard King, Kiran Shah and Jon Diver (all directors of the Company) are interested in the Pension Fund by reason of being trustees and beneficiaries of the Pension Fund. Enquiries: The Character Group Plc Charles Stanley Securities Citigate Dewe Rogerson LtdRichard King / Kiran Shah Rick Thompson / Philip Davies Fiona Tooley Tel: 020 8949 5898 Tel: 020 7149 6457 Tel: 0121 455 8370 This information is provided by RNS The company news service from the London Stock Exchange