30 May 2012 07:00
30 May 2012
Stobart Group Limited ("Stobart" or "Company")
Transaction in own shares
Stobart Group Limited announces that on 29 May 2012 it purchased 100,000 of its 10p ordinary shares at an average price of 117.6 pence per ordinary share, with the highest and lowest prices paid for these shares being 117.0 pence and 118.0 pence. The purchased shares will all be held as treasury shares and it is intended that these shares are used for any awards that may be made pursuant to the LTIP.
Following the above purchase, the total number of ordinary shares in issue (excluding shares held in treasury) is 347,017,581. The Company holds 6,943,291 ordinary shares as Treasury Shares.
The total number of voting rights in Stobart, excluding treasury shares, as at 25 May 2012 is 347,017,581. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Stobart under the FSA's Disclosure and Transparency Rules.
Following discussions between the Company and the Takeover Panel, the Takeover Panel has agreed that, under Rule 37.1 of the Takeover Code and the notes to that Rule, Invesco should be treated as an "innocent bystander" in relation to any increase in its holdings of Shares as a result of the buyback and will not therefore be required to make an offer under Rule 9 as a result of any increase in its holding caused by such a buyback.
Enquiries:
Mark Longson | 020 7929 5599 |
Square1 Consulting | |
James Andrew | 020 7287 9610 |
i-nfluence |