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23 Mar 2011 12:05
HUNTSWORTH PLC ("Huntsworth") or (the "Company")
Share Buy-Back Programme
Huntsworth announces the commencement of a new buy-back programme of £4 million per annum (and £10 million in total) of the company's existing issued share capital, now that the close period has ended today with the publication of its preliminary results for the year ended 31 December 2010. Any shares purchased will be cancelled or held in treasury.
Any acquisitions pursuant to the buy-back programme will be effected within certain pre-set parameters. The main parameter is that the maximum price paid is to be limited to no more than the higher of 105 per cent. of the average middle market closing price of Huntsworth's shares for the 5 dealing days preceding the date of purchase and that stipulated by Article 5(1)of the Buy-Back and Stabilisation Regulation.
The Company is not planning to purchase more than 50 per cent. of the average daily volume traded in the 20 trading days preceding the date of purchase.
Any shares purchased under the buy-back programme will count towards the Company's general buy-back authority of 14.99% of the Company's issue share capital, as approved at the Company's AGM on 13 May 2010.
Huntsworth confirms that having published its preliminary results today, it currently has no unpublished price sensitive information.
Enquiries:
Huntsworth PLC
Sally Withey, Chief Operating Officer Tel: 44 (0)207 224 8778
Tymon Broadhead, Group Finance Director and Company Secretary
Numis Securities Limited
Rupert Krefting / Alex Ham / Michael Burke Tel: 44 (0)207 260 1000
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