Independent News & Media Regulatory News (INM)

19 Jul 2007 15:39

Independent News & Media PLC19 July 2007 Independent News & Media PLC Announces Extension of Share Buy Backs into Close Period Dublin/London - 19th July, 2007: Independent News & Media PLC('INM' or 'the Group') continues to pursue an efficient capital managementpolicy that will enable the Group to proactively manage the dilutive impacton all INM shareholders, which will arise on the maturity of the New ZealandCumulative Exchangeable Preference Shares, if as expected, they convert intoINM shares (c. 56 million) in late November 2007. As part of this policy, and following on its recent share repurchases,INM advises that any Ordinary Shares of nominal value €0.30 ("Shares")which INM buys back between 20th July, 2007 and 17th September, 2007(inclusive), being the close period prior to the scheduled announcement of INM'sinterim results for the six month period to 30th June, 2007 on 18th September,2007 will be repurchased under an irrevocable, non-discretionary programmeexecuted by Davy. Davy will make its trading decisions in relation to INM'sShares repurchased under the buy back programme independently of, anduninfluenced by, INM. Shares repurchased will, as previously announced,be held in treasury. Any acquisitions will be effected within certain pre-set parameters, and inaccordance with both INM's general authority to repurchase shares and Chapter 9of the Listing Rules of the Irish Stock Exchange and Chapter 12 of theListing Rules of the United Kingdom Listing Authority. INM confirms that it is not currently aware of any unpublished price sensitiveinformation. ENDS. Thursday, 19th July, 2007 For further information, please contact: Independent News & Media PLC Gavin O'Reilly Chief Operating Officer+353 1 466 3200 Donal Buggy Chief Financial Officer+353 1 466 3200 Davy Eugenee Mulhern + 353 1 679 6366 This information is provided by RNS The company news service from the London Stock Exchange