Last checked at 1 Mar 2017 07:00
Moneysupermarket.com Group PLC
1 March 2017
Share Buy-back Programme
Moneysupermarket.com Group PLC (the "Company") announces that it will commence a new programme to repurchase ordinary shares in the capital of the Company during the period running from 1 March 2017 to no later than 13 December 2017. The sole purpose of the share buy-back programme is to reduce the share capital of the Company.
The share buy-back programme will be managed by an independent third party, Barclays Capital Securities Limited, which makes its trading decisions concerning the timing of the purchases of the Company's shares independently of the Company. The Company has entered into an irrevocable, non-discretionary agreement with Barclays Capital Securities Limited.
The maximum amount allocated to the share buy-back programme is £40 million and the maximum number of ordinary shares that will be purchased is 54,752,150. The purchased shares will be cancelled.
Any purchases of ordinary shares by the Company in relation to this announcement will be carried out on the London Stock Exchange and will be effected within certain pre-set parameters and in accordance with (and subject to the limits prescribed by) the Company's general authority to purchase shares granted by its shareholders at the Company's 2016 Annual General Meeting held on 20 April 2016, the Market Abuse Regulation 596/2014 ("MAR") and Chapter 12 of the Listing Rules.
Details of the authorities granted at the Company's 2016 Annual General Meeting can be found on our website under: http://corporate.moneysupermarket.com/Investors/shareholder-information/agm/2016.aspx.