Sign In
Last checked at 
11 Dec 2013 12:45
MS INTERNATIONAL plc |
(the "Company")
Purchase of own shares
The Company announces that it has today purchased 1,000,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares") from the MS INTERNATIONAL plc Retirement and Death Benefits Scheme (the "Scheme") at a price of 171 pence per Ordinary Share (the "Purchase"), being the middle market price at the time of the Purchase. The Scheme has sold the Ordinary Shares to reduce its holding in the Company to meet with the requirements of the Occupational Pension Schemes (Investment) Regulations 2005.
The Ordinary Shares acquired by the Company will be held in treasury. Following the Purchase, the Company holds 1,245,048 Ordinary Shares as treasury shares and the Scheme is now interested in 290,000 Ordinary Shares representing approximately 1.58 per cent. of the issued share capital of the Company.
Michael Bell, Michael O'Connell and David Pyle are directors of the Company and directors of the Scheme trustee. Accordingly, the Purchase is a related party transaction for the purpose of the AIM Rules. Nicholas Bell and Roger Lane-Smith, being the independent directors for the purpose of the purchase, having consulted with Shore Capital, the Company's Nominated Adviser, consider the terms of the Purchase to be fair and reasonable insofar as the Company's shareholders are concerned. None of the directors of the Company are beneficially interested in the Scheme.
The Company's issued share capital now comprises 17,151,025 Ordinary Shares (excluding Ordinary Shares held in treasury). The total current voting rights in the Company is therefore 17,151,025.
The above figure (17,151,025 Ordinary Shares) is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
For further information please contact:
MS INTERNATIONAL plc
Michael Bell Tel: 01 302 322133
Shore Capital
Nomad and Broker
Bidhi Bhoma/Patrick Castle Tel: (0) 20 7408 4090
Follow the stocks
