Dealing in Company shares

RNS Number : 1409I

Fairpoint Group PLC

20 July 2012

 

20 July 2012

Fairpoint Group plc

Dealing in Company shares

Fairpoint Group plc ("Fairpoint or the "Company"), the leading provider of advice and solutions to financially stressed consumers, is pleased announce that the entire stake previously held by Andrew Redmond, John Reynard, Paul Latham, Derek Oakley and Peter Byrne and his family (the "Founder Shareholders"), comprising 9,826,027 ordinary shares of 1p each ("Ordinary Shares"), representing approximately 22.53% of the Company's issued share capital, has been placed with a number of institutional and other investors at a price of 60p per Ordinary Share.

The Company has acquired 1,666,667 Ordinary Shares to be held in treasury. Following the above purchase, the Group holds 1,666,667 Ordinary Shares as treasury shares. As a consequence, the total number of Ordinary Shares in issue is 41,942,679 (excluding the Ordinary Shares held as treasury shares).

Chris Moat, the CEO stated: "We view this as a positive outcome for the Company; it recognises the strength of Fairpoint as an investment proposition and should increase the overall liquidity of our shares. We welcome the news, and our new shareholders to Fairpoint."

For further information, please contact:

Fairpoint Group Plc

Chris Moat, Chief Executive Officer                                        0844 826 1209

John Gittins, Finance Director

Shore Capital (Nominated adviser and broker)

Pascal Keane                                                                                     0207 408 4050

Edward Mansfield

FTI Consulting

Paul Marriott                                                                                     0207 269 7243

Laura Pope

 

END

 

 

HOLLIFSTDTIIFIF