27 May 2009 07:00
Trikona Trinity Capital PLC (the 'Company')
Share Buyback Program
The Board of the Company today announces the terms of its share buyback program.
The Company will seek to purchase and cancel up to 19,384,648 ordinary shares of 1p each ("Ordinary Shares") as part of its share buyback program. No more than 10 million Ordinary Shares however will be purchased on any given day. The price to be paid for any Ordinary Shares acquired will not be more than 5 per cent. above the average market value for the five business days prior to the day the purchase is made, up to a maximum of 60 pence per Ordinary Share. The actual number of Ordinary Shares purchased, the timing of purchases and the price at which the Ordinary Shares are bought as part of the share buyback program will depend upon market conditions.
Since the announcement on 24 March 2009 of the Company's intention to effect returns of capital to shareholders, the Company has purchased for cancellation 3,250,000 Ordinary Shares, following which the current issued share capital of the Company is 228,550,200.
The share buyback program will remain in place until the release of the Company's preliminary results for the year ended 31 March 2009, at which time the board will update shareholders on the Company's return of capital strategy. The preliminary results are expected to be released on 27 July 2009.
27 May 2009
Trikona Capital Advisers Ltd (UK)
Sally Lewis, Director of Investor Relations +44 20 7148 5365
Evolution Securities, Nominated Adviser and Joint Broker
Tom Price/Bobbie Hilliam, Corporate Finance +44 207 071 4300
Chris Sim, Corporate Broking
Arden Partners plc, Joint Broker
Chris Hardie, Corporate Finance +44 207 398 1600