Transaction in Own Shares

RNS Number : 0391Z

Stobart Group Limited

09 March 2012

 



9 March 2012

Stobart Group Limited ("Stobart" or "Company")

Transaction in own shares

Stobart Group Limited announces that on 8 March 2012 it purchased 100,000 of its 10p ordinary shares at an average price of 130.575 pence per ordinary share. The highest and lowest prices paid for these shares were 132 pence per share and 128.5 pence per share respectively. The purchased shares will all be held as treasury shares.

Following the above purchase, the total number of ordinary shares in issue (excluding shares held in treasury) is 351,460,872. The Company holds 2,500,000 ordinary shares as Treasury Shares.

The total number of voting rights in Stobart, excluding treasury shares, as at 7 March 2012 is 351,460,872.  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

Influence

 

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