18 Jun 2009 07:00
SciSys plc ("SciSys" or the "Company")
Transaction in Treasury Shares and Share Buy-Back Programme
SciSys plc (AIM: SSY) announces that on 17 June 2009, it sold 13,208 ordinary shares of 25p each in the capital of the Company ("Shares") out of treasury. The sale price was 42.80p per Share being the average mid-market price for the preceding five trading days.
This sale was to the Trustee of the HMRC approved SciSys plc Employee Share Incentive Plan ("the Scheme") for the purpose of satisfying the purchase of SciSys shares ("Partnership Shares") by eligible employees which are then held on their behalf pursuant to the terms of the Scheme.
Since the Company started buying back Shares into treasury on 6 April 2009, it has acquired 30,000 Shares. Following the sale of these 13,208 Shares from treasury to the Scheme, the Company holds 16,792 of its Shares in treasury and has 28,463,483 Shares in issue (excluding treasury shares).
The authority granted to the Company by shareholders to purchase up to £600,000 of the Company's existing issued share capital was renewed at its next Annual General Meeting held on 28 May 2009. Shares acquired pursuant to the Buy-Back Programme will continue to be purchased within certain pre-set parameters, including a maximum purchase price of no more than 110 per cent of the average middle market closing price of the Shares for the 5 dealing days preceding the date of purchase. The absolute maximum number of Shares which may be held in treasury remains at 9.9% of the Company's issued share capital. The authority ends on the date of the Company's next AGM to be held in mid 2010.
Enquiries:
Peter Murden Tel: 01249 466466 Company SecretarySciSys Plc
Nomad - Canaccord Adams LimitedSimon Bridges Adria Da Breo Richards Tel: 02070 506500