Persimmon PLC
23 October 2007
Persimmon plc: Notice of Share Buyback
Persimmon announces that on Monday 22 October 2007 it repurchased 250,000 shares
to be held in treasury at an average price of 952.57 pence per share.
The Board has decided to implement a limited share buyback programme, within the
authority granted to it by shareholders at the Annual General Meeting in April.
The Board consider that the recent weakness in share prices of companies within
the housebuilding sector has provided an attractive opportunity for the Company
to purchase its own shares. The Board expects that purchases will continue to
be made by the Company on an opportunistic basis.
Following the above purchases, Persimmon holds 250,000 shares in treasury and
the total number of ordinary shares in issue (excluding treasury shares) is
302,339,247.
John White, Chairman commented: 'The recent fall in the Persimmon share price
has prompted us to initiate a share buyback. We remain confident of the growth
opportunities available to us as a business notwithstanding the tougher macro
economic conditions currently in place. We continue to be totally focussed on
creating value for shareholders and growing our business, and we have a very
strong balance sheet which gives us considerable flexibility.
We intend to be flexible and opportunistic on the buyback for the rest of this
year. The buyback will not alter any of the current investment plans that we
have for Persimmon. '
For further information please contact:
Persimmon plc M: Communications
Mike Farley, Group Chief Executive Edward Orlebar
+44 (0) 1904 642199 +44 (0) 207153 1523/ +44
mike_farley@persimmonhomes.com orlebar@mcomgroup.com
Mike Killoran, Group Finance Director
+44 (0) 1904 642199
mike.killoran@persimmonplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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