Transaction in Own Shares

RNS Number : 5692R

Next PLC

04 November 2011

 



Next plc

Off-market purchases by way of contingent purchase contract by the Company of ordinary shares for cancellation

Next plc announces today that, pursuant to the authority granted at the Annual General Meeting of the Company's shareholders on 19 May 2011, it has entered into a contingent forward purchase contract with Barclays Bank Plc on 4 November 2011 under which it may acquire up to a maximum of 650,000 ordinary shares for cancellation at a price of 2533.83 pence per share in the period up to 30 May 2012.

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

A J R McKinlay

Company Secretary

Next plc

Editorial note:

Under the contingent contract, the Company may purchase a fixed number of shares each week in the period to 30 May 2012, at a fixed price that is at a discount to the market price prevailing at the start of the contract period. The contract is contingent in that it would terminate early, and no further shares would be purchased, if the Company's share price increases to a pre-determined suspension level during the contract period. This suspension level has been set at the start of the contract and is between 104% and 110% of the Company's share price at the start of the contract.

 

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