Transaction in Own Shares

RNS Number : 0389W

Wincanton PLC

03 February 2017

 

For Immediate Release

3 February 2017

Wincanton plc

('Wincanton' or the 'Company)

Transaction in own shares

Wincanton plc announces its intention to make purchases of its own shares commencing today until 31 March 2017 (unless terminated earlier). The purchases will be conducted in accordance with the authorisation granted to the Company by shareholders at the Annual General Meeting (AGM) held on 21 July 2016.

It is intended that the ordinary shares purchased will be gifted by the Company to the Wincanton Employee Benefit Trust in order to satisfy future exercises of share option awards made to employees under the Company's employee share incentive schemes.

Any purchases will be effected over the period within certain pre-set parameters and limits approved at the Company's AGM held on 21 July 2016.

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; (ii) an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share as derived from the London Stock Exchange Trading System in each case at the time the purchase is agreed.

Notifications will be made when any share purchases have been made in accordance with Listing Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

ENDS

For further information please contact:

Wincanton plc
Tim Lawlor, Chief Financial Officer                                                                                          01249 710 000

Buchanan
Richard Oldworth, Vicky Hayns, Jane Glover                                                                         020 7466 5000   

 

END

 

 

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