Transaction in Own Shares

RNS Number : 1280S

Network International Holdings PLC

07 March 2023

 

7^th March 2023: Network International Holdings Plc

Share Buyback Programme update and Transactions in own shares

Network International Holdings Plc (LSE: NETW) (the "Company") announced its intention on 11^th August 2022 to commence a share buyback programme of up to an aggregate purchase price of USD 100 million (the "Buyback Programme") in two tranches of USD 50 million each. Following the completion of the initial tranche, the second tranche commenced as announced on 26^th January 2023. The Buyback Programme is based on the authorisation granted by the Company's Annual General Meeting on 19 May 2022.

Update to the Buyback Programme

The Company announces its intention to cancel all ordinary shares (the "Shares"), purchased up to 6^th March 2023 under the Buyback Programme, with the exception of 5,000,000 Shares which will be held in treasury to satisfy obligations under the Company's share awards schemes.

The Company also intends to cancel any further Shares purchased under the Buyback Programme.

There are no other changes to the Buyback Programme.

Transactions in own shares

On 6 March 2023, the Company purchased its own ordinary shares through its broker Citigroup Global Markets Limited as detailed below:

Trade Date	Daily Number of Shares Purchased	Lowest Price paid per Share	Highest Price paid per Share	Volume Weighted Average Price paid per Share*	Venue	Trading Currency
06-Mar-23	120,000	283.60p	286.80p	285.53p	XLON	GBp
TOTAL	120,000

*rounded to two decimals

The shares above form a part of the Buyback Programme and will be cancelled. Following the above transactions, the Company holds 5,000,000 of its ordinary shares in treasury and has 542,793,874 ordinary shares in issue (excluding treasury shares), which corresponds to the total number of voting rights.

This figure for the total number of voting rights 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 FCA's Disclosure Guidance and Transparency Rules.

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

Transaction details

 

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) as incorporated into and implemented under English law (including by virtue of the European Union (Withdrawal) Act 2018), the detailed breakdown of individual trades made by Citigroup Global Markets Limited on behalf of the Company as part of the Buyback Programme can be found at:

http://www.rns-pdf.londonstockexchange.com/rns/1280S_1-2023-3-7.pdf

Jaishree Razzaq

Chief Risk Officer & Group Company Secretary

Network International Holdings Plc

(LEI: 213800XVRNKWENNLKK60)

Investor Relations enquiries

Network International  [e-mail]

Amie Gramlick, Head of Investor Relations

 

Media enquiries

Teneo  [e-mail]

Ben Foster, Andy Parnis

 

END

 

 

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