13 Jul 2017 07:00
13 July 2017
Wincanton PLC('Wincanton' or the 'Group')
Transaction in own shares
Wincanton plc announces its intention to make purchases of its own shares commencing today until 30 September 2017 (unless terminated earlier). The purchases will be conducted in accordance with the authorisation granted to the Company by shareholders at the Annual General Meeting (AGM) held on 29 June 2017.
It is intended that the ordinary shares purchased will be gifted by the Company to the Wincanton Employee Benefit Trust in order to satisfy future exercises of share option awards made to employees under the Company's employee share incentive schemes.
Any purchases will be effected over the period within certain pre-set parameters and limits approved at the Company's AGM held on 29 June 2017.
The main parameter is that the maximum price paid is to be limited to no more than the higher of (i) an amount equal to 105 per cent. of the average middle market quotations for an Ordinary Share in the Company as derived from The London Stock Exchange Daily Official List for the 5 business days immediately preceding the date on which such share is contracted to be purchased; (ii) an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share as derived from the London Stock Exchange Trading System in each case at the time the purchase is agreed.
Notifications will be made when any share purchases have been made in accordance with Listing Rules.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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For further information please contact:
Wincanton plc Tel: 01249 710 000
Adrian Colman, Chief Executive Officer
Tim Lawlor, Chief Financial Officer
Buchanan Tel: 020 7466 5000
Richard Oldworth / Victoria Hayns / Maddie Seacombe
Notes to Editors
Wincanton plc
Wincanton is the largest British logistics firm, providing supply chain consultancy and solutions to some of the world's most admired brands. We employ approximately 18,000 people across more than 200 sites and have a 3,400-strong fleet of vehicles.
Our business started in 1925 delivering milk and dairy products. Although our heritage means a lot to us, we have since expanded to provide supply chain solutions across a wide range of sectors including retail, construction, defence and energy.
As a trusted and respected business partner, we design and implement services that range from setting up and operating distribution networks through to bonded warehouses, technology hosting, container transport and storage. We strive for operational excellence in everything we do.
We work hard to understand and respond to our customers' needs, build long term relationships and use our skills and expertise to deliver a smarter, added value service, every day. Our customers rely on us to make their businesses operate more efficiently and to gain a competitive advantage in their sector.
Improved stock visibility and availability, reduction of lead times, collaborative warehousing and transport models, and an absolute commitment to continuous improvement, are just some of the reasons why many of our customer relationships extend to more than 20 years.
Key facts:
· Annual revenue in the UK & Ireland exceeds £1 billion
· Circa 18,000 employees including 4,000+ drivers
· Operates from 200+ locations with 6.6 million square feet of warehousing across the UK and Ireland
· Operating responsibility for around 3,400 vehicles