Last checked at 31 Mar 2016 12:13
31 March 2016
Mitie Group plc
Share Buy-back Programme
Mitie Group plc (the "Company") announces that the Company has entered into an irrevocable and non-discretionary arrangement with its broker, Canaccord Genuity Limited, to repurchase on its behalf and within certain pre-set parameters and in accordance with the buy-back provisions of the Buy-back and Stabilisation Regulation as set out in Annex 1 of MAR 1, ordinary shares of 2.5 pence each in the capital of the Company ("Shares"), to be cancelled by the Company, commencing on 31 March 2016 and continuing until the later of 23 May 2016 or the quantity of shares to be purchased under the arrangement is purchased. The terms of the buy-back programme may only be amended by the Company when the Company is no longer in a prohibited period. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase Shares. The Board has approved the purchase of Shares to reduce the capital of the Company in order to offset the increase in share numbers anticipated from the issue of Shares in connection with the Company's Mitie Model and its share schemes.
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For further information, contact:
Erica Lockhart
Executive Affairs Director, Mitie Group plc
T: +44 (0)20 3123 8179 M: +44 (0)7979 784488 E: erica.lockhart@mitie.com
Lauren Hepburn
Investor and Public Relations Manager, Mitie Group plc
T: +44 (0)20 3123 8720 M: +44 (0)7469 405426 E: lauren.hepburn@mitie.com
Notes for editors
What is Mitie?
Mitie is a FTSE250 strategic outsourcing company.
We work with people who want to perform better - now and in the future. We help our clients to run more efficient and effective businesses by looking after their facilities, their energy needs and the people they're responsible for.
We're all about developing our people to excel every day, challenge the status quo, and inspire change in the way people live and work.
Find out more at www.mitie.com