Close Period Share Repurchase Programme

RNS Number : 5684V

Soco International PLC

13 January 2012

 



CLOSE PERIOD SHARE REPURCHASE PROGRAMME

SOCO International plc ("SOCO" or the "Company") announces that it has entered into a non-discretionary close period arrangement with Merrill Lynch International (commencing on 16^th January 2012 and ending with the announcement of the Company's preliminary results for the year to 31 December 2011) to purchase ordinary shares in the Company.  These share purchases which will be made on the Company's behalf under its buy back programme are pursuant to an authority provided by shareholders of the Company to purchase up to 34.04 million ordinary shares in the Company through to the expiry of the Company's existing shareholder authority to purchase such shares (the "Programme"). The Company intends to repurchase shares up to an equivalent value of £25 million during the period ending at the 2012 Annual General Meeting, which will be held in June 2012. It is intended that any shares purchased will be transferred into Treasury.

 

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