Transaction in Own Shares

RNS Number : 5292V

St. Ives PLC

16 December 2013

 



16 December 2013

St Ives plc - Share Buy-back

St Ives plc ("St Ives") or (the "Company") announces that it will continue to make market purchases to be held in treasury under a share buy-back (the "Share Buy-back") in addition to 1,582,571 currently held in treasury. It is intended that the number of shares acquired will be sufficient to be used to satisfy the vesting of share scheme awards and to satisfy share-based consideration for existing and future acquisitions.

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

Patrick Martell, Chief Executive

Matt Armitage, Chief Financial Officer

 

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