Share Buy-back

RNS Number : 9647N

St. Ives PLC

01 August 2014

 



1 August 2014

St Ives plc - Share Buy-back

Further to the announcement made on 16 December 2013, St Ives plc ("St Ives") or (the "Company") currently holds 78,647 shares in Treasury.

As the Company is about to enter into a close period ahead of its preliminary results announcement for the year ended 1 August 2014, the Company has appointed Numis Securities Limited to manage an irrevocable programme during the close period (the "Close Period Share Buy-back") to buy-back shares within certain pre-set parameters. The Close Period Share Buy-back will commence on 1 August 2014 and will run up to the announcement of the preliminary results for the year ended 1 August 2014.

Any purchases made pursuant to the Share Buy-back will be effected over the next twelve months within certain pre-set parameters and limits approved at the Company's Annual General Meeting held on 26 November 2013. The main parameter is that the maximum price paid is to be limited to no more than the higher of (i) an amount equal to 105 per cent. of the average middle market quotations for an ordinary share in the Company as derived from The London Stock Exchange Daily Official List for the 5 business days immediately preceding the date on which such share is contracted to be purchased and (ii) the amount stipulated by Article 5(1) of the EU Buy-Back and Stabilisation Regulation (being the higher of the price of the last independent trade and the highest current independent bid for an ordinary share in the Company on the trading venues where the market purchases by the Company pursuant to the authority conferred by the shareholders will be carried on).

Notification will be made of any purchases made pursuant to the Share Buy-back in accordance with Listing Rule 12.4.6.

Enquiries:

St Ives plc                                          0207 928 8844

Matt Armitage, Chief Executive

Brad Gray, Chief Financial Officer

 

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