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Share Buyback Programme

21 Nov 2017 07:05

RNS Number : 0374X
Ei Group plc
21 November 2017
 

21 November 2017

 

Ei Group plc

 

Share Buyback Programme

 

Ei Group plc (LSE: "Ei Group" or the "Company") is today pleased to announce a share buyback programme of up to GBP20 million (the "Programme").

 

Purchases of ordinary shares pursuant to the Programme will fall within the maximum of 73,417,505 ordinary shares that the Company was authorised to purchase under the general authority granted by shareholders at the Company's most recent annual general meeting held on 9 February 2017, and all shares will be purchased within the parameters as to price and daily volume specified in that authority. The Programme is currently expected to end no later than 7 February 2018. The purpose of the Programme is to reduce the share capital of the Company and return funds to shareholders who sell their shares; repurchased shares will be cancelled.

 

In order to effect the Programme, Ei Group has entered into an agreement with Deutsche Bank AG, London Branch ("Deutsche Bank") to carry out on-market purchases of its ordinary shares. This agreement includes provisions giving Deutsche Bank authority to carry out market purchases under the Programme independently of the Company.

 

A renewed general authority to purchase ordinary shares will be sought at the Company's annual general meeting to be held on 8 February 2018.

 

The Programme will be conducted in compliance with the Market Abuse Regulation (EU) No. 596/2014, Commission Delegated Regulation (EU) No. 2016/1052 and Chapter 12 of the Financial Conduct Authority's Listing Rules. Details of all purchases made pursuant to the Programme will be announced via RNS and published on the Company's website as required by the Market Abuse Regulation.

 

Loretta Togher

Company Secretary

0121 272 5000

 

 

 

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