PURCHASES OF SHARES DURING CLOSED PERIODS

RNS Number : 8854Q

WH Smith PLC

02 December 2016

 

WH Smith PLC (SMWH) - Share buy-back programme

PURCHASES OF SHARES DURING CLOSED PERIODS - CORRECTED

WH Smith PLC (the "Company") announces that it has entered into a non-discretionary arrangement with Barclays Bank PLC, acting through its investment bank ("Barclays"). The arrangement allows Barclays to purchase, up to 11,223,922 ordinary shares in the Company during closed period of the Company arising between the date hereof and 25 January 2017. These share purchases will be made on the Company's behalf and in accordance with the arrangement and shall be made independently of and uninfluenced by the Company.

Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with Barclays and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares and Chapter 12 of the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the higher of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five business days before the purchase is made, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.  The aggregate purchase price under this arrangement will not exceed £5 million.

The sole purpose of these share purchases is to reduce the Company's share capital.  

Further information on the Company can be found on our Internet site: www.whsmithplc.co.uk.

Enquiries:-

WH Smith PLC

Mark Boyle

Investor Relations

020 7406 6320

 

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