Share Repurchase Programme

RNS Number : 1638U

Compass Group PLC

21 December 2012

 



SHARE REPURCHASE PROGRAMME

As announced on 21 November 2012, Compass Group PLC (the "Company") is commencing a share repurchase programme of up to £400m which will commence on 7 January 2013. Such programme is to be carried out pursuant to and in accordance with the authority conferred by the Company's shareholders at the Annual General Meeting held on 2 February 2012. Any shares purchased will be cancelled.

The timing and quantum of any purchases will be determined, inter alia, with regard to prevailing market conditions and, in light of liquidity conditions and in line with the Market Abuse Directive, although the Company may not purchase more than 20 per cent of the average daily volume.

Any share repurchases under the Programme will be effected in accordance with Chapter 12 of the UKLA Listing Rules which requires that the maximum price is an amount not higher than (i) 105 per cent of the average market value of the Company's shares for the five business days immediately preceding the date on which the Company's shares are purchased and (ii) that stipulated by Article 5(1) of the Buy Back and Stabilisation Regulation. 

For further information please contact:

 Compass Group PLC

 Justin Besley, Group Treasurer                    [phone]

 

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