Share Repurchase Programme Update

RNS Number : 7103A

Trinity Mirror PLC

28 March 2017

 

28 March 2017

Trinity Mirror plc 

Share Repurchase Programme Update

On 1 August 2016 Trinity Mirror plc ("the Company") announced the commencement of the 2016 share repurchase programme of the Company's ordinary shares of 10 pence each (the "Ordinary Shares") for up to a maximum consideration of £10m (the "Programme").

In amendment of the Programme, the Company today announces that it has entered into an irrevocable, non-discretionary arrangement with the Company's broker in relation to the Programme, being Numis Securities Ltd ("Numis"). Under this irrevocable arrangement, purchases of Ordinary Shares up to an aggregate value of £10 million (including purchases of £4.7 million already transacted since announcement on 1 August 2016) will be made by Numis, including during any Company closed periods. The Programme will continue to operate during open and closed periods up until the end of the next Annual General Meeting of the Company in 2017 ("2017 AGM") and, subject to approval of the renewal of the Company's authority to purchase its own shares at the 2017 AGM, up until the end of the Company's Annual General Meeting to be held in 2018.

Numis will make trading decisions in relation to the purchases of Ordinary Shares in closed periods independently of, and uninfluenced by, the Company.

Save as set out in this announcement, the terms of the Programme remain as announced on 1 August 2016.

Daily volume restrictions and other trading restrictions will apply in accordance with Articles 3 and 4 of the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016. The Company will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. The Company intends to hold Ordinary Shares purchased under the Programme in treasury.

Numis may undertake transactions in Ordinary Shares (which may include sales and hedging activities, in addition to purchases) in order to manage their market exposure under the Programme. Numis will make any disclosures they are legally required to make in relation to such transactions.

Numis, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom is acting for the Company only and will not be responsible to anyone other than the Company for providing the protections offered to clients of Numis nor for providing advice in relation to any matters referred to in this announcement.

Enquiries

Trinity Mirror
Simon Fox, Chief Executive Vijay Vaghela, Group Finance Director and Company Secretary		020 7293 3553
Brunswick
Mike Smith, Partner		020 7404 5959
Will Medvei, Director

 

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