Trading Update and Share Buy Back

RNS Number : 8259I

Character Group PLC

21 June 2011

 



Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date: Tuesday, 21 June 2011

The Character Group plc

("Character", the "Group" or "the Company")

Trading update and Share Buy Back

The Board notes the recent movement in the Group's share price.  Although recent media comment has reported a difficult retail trading environment, the Board wishes to place on record that it is not aware of any new specific adverse factors that will affect the Group's performance in the current financial year and the Company expects to meet current market expectations for the year ending 31 August 2011. 

At this stage, with the Group's product portfolio performing well, the Board believe that the Group will continue to make further good progress, grow market share and deliver another solid performance.

The Company advises that on 20 June, 2011 it bought back for cancellation 5,500 Ordinary Shares of 5p each in the capital of the Company ("Ordinary Shares") in the market, at a price of 147 pence per share. This represents approximately 0.02 per cent. of the current issued share capital of the Company (excluding shares held in treasury).

For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue as at the date of this notice (taking into account the Ordinary Shares purchased for cancellation by the Company announced above and excluding Ordinary Shares held in treasury) is 23,894,081 ("Revised Issued Voting Share Capital").

The Company has a total unutilised capacity to buy back up to a further 5,592,500 Ordinary Shares under the authority granted at the Annual General Meeting held on 19 January 2011.

The Company holds 4,019,456 Ordinary Shares in treasury, representing approximately 16.82 per cent. of the Revised Issued Voting Share Capital, which do not carry voting rights.

The figure of 23,894,081 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or change to their interest, in the Company under the Disclosure and Transparency Rules.

Enquiries:
Richard King, Chairman		Russell Cook
Kiran Shah, Group Finance Director & Joint MD	Fiona Tooley	Carl Holmes
The Character Group plc	Citigate Dewe Rogerson	Charles Stanley Securities
Tel: [phone]	Tel: [phone]	(Nominated Adviser)
		Tel: [phone]
Ticker: AIM: CCT

 

END

 

 

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