Acquisition of own shares/Hol

RNS Number : 2350T

Maintel Holdings PLC

24 September 2010

 



Maintel Holdings Plc ("Maintel" or "the Company")

Acquisition of own shares/Holdings in Company/Total voting rights

The Company announces that, pursuant to its general authority granted by shareholders of the Company on 22 April 2010 to make market purchases of its own shares, the Company made on market purchases of 270,000 Ordinary Shares of 1 pence each ("Ordinary shares") at 165 pence per Ordinary Share, and 10,000 Ordinary Shares at 163 pence on 23 September 2010 (to be cancelled). The effect of the share buy back will be to decrease the Company's cash balances by £462,000. The transaction will be earnings enhancing.

The total number of Ordinary Shares in issue following the purchase and cancellation of such Ordinary Shares is 10,486,800 Ordinary Shares.

270,000 of the shares were purchased from T Wat, who sold a further 30,000 shares, also at 165 pence, on the same day.  Following the disposal by Mr Wat and the cancellation of the shares purchased, he retains a beneficial interest in 380,203 shares, representing 3.6% of the Company's issued share capital.

For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares of 1p of the Company in issue after the purchase and cancellation reported above is 10,486,800, with each share carrying the right to one vote.

There are no shares held in treasury.

The total number of voting rights in the Company is therefore 10,486,800.  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 the Company under the Disclosure and Transparency Rules.

Enquiries:

Eddie Buxton - Chief Executive 020 7401 4601

Dale Todd - Finance Director 020 7401 0562

FinnCap

Marc Young 020 7600 1658

 

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