Transaction in Own Shares

RNS Number : 3678T

Capital & Counties Properties Plc

12 December 2012

 



12 DECEMBER 2012

CAPITAL & COUNTIES PROPERTIES PLC ("Capco" or "the Company")

TRANSACTION IN OWN SHARES

Further to the implementation of an odd-lot offer (the "Odd-lot Offer") to facilitate a reduction in the number of ordinary shareholders holding fewer than 250 ordinary shares in the Company (the "Odd-lot Holders"), the Company announces that following the closure of the Odd-lot Offer on 7 December 2012 the Company has today, being the Effective Date, purchased a total of 431,651 of its own ordinary shares of 25 pence each as follows:

-               106,651 ordinary shares held on the UK share register were purchased at a price of 236.07 pence per share.

-               325,000 ordinary shares held on the SA share register were purchased at a price of 3284.59 cents per share.

The Odd-lot Offer was implemented in November 2012 because the Company had an unusually large number of shareholders for a company of its size, with a total of more than 23,000 shareholders.  Following the implementation of the Odd-lot Offer, the Company's shareholder base has been reduced by 35% (7,916 shareholders); this reduction will reduce administrative costs, including, for example, the costs of printing and distributing financial statements, circulars and notices.

The shares purchased by the Company represent approximately 0.06% of the existing issued share capital of the Company.

The purchased shares will all be held as treasury shares. Following the above purchase, the Company holds 431,651 ordinary shares as treasury shares. The total number of ordinary shares in issue (excluding shares held as treasury shares) is 752,696,152.

Enquiries:

Ruth Pavey, Company Secretary

Telephone [phone]

 

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