Last checked at 15 Feb 2017 18:05
WH SMITH PLC - PURCHASES OF SHARES DURING OPEN PERIODS
WH Smith PLC (the "Company") refers to the RNS announcement issued by it on 25 January 2017 in connection with the arrangement with Barclays Bank PLC, acting through its investment bank ("Barclays") allowing Barclays to purchase up to 11,190,243 ordinary shares in the Company during the open period of the Company arising between the date thereof and 28 February 2017. These share purchases will be made on the Company's behalf and in accordance with the arrangement.
Share purchases effected pursuant to the arrangement are subject to the terms of the arrangement with Barclays and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares and Chapter 12 of the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the higher of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five business days before the purchase is made, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out. The Company hereby announces that the aggregate purchase price under this arrangement will be increased from a total amount of £4.5 million to £8.5 million.
The sole purpose of these share purchases is to reduce the Company's share capital.
Further information on the Company can be found on our Internet site: www.whsmithplc.co.uk
Enquiries:-
WH Smith PLC
Mark Boyle
Investor Relations
020 7406 6320