Trinity Mirror PLC Share Repurchase Programme Update (0451K)
16 September 2016 - 5:30PM
UK Regulatory
TIDMTNI
RNS Number : 0451K
Trinity Mirror PLC
16 September 2016
16 September 2016
Trinity Mirror plc
Share Repurchase Programme Update
On 1 August 2016 Trinity Mirror plc ("the Company") announced
the commencement of the 2016 share repurchase programme of the
Company's ordinary shares of 10 pence each (the "Ordinary Shares")
for up to a maximum consideration of GBP10m (the "Programme").
In amendment of the Programme, the Company today announces that
it has entered into irrevocable, non-discretionary arrangements
with the Company's brokers in relation to the Programme, being
Numis Securities Ltd ("Numis") and Barclays Bank plc, acting
through its investment bank ("Barclays"). Under these irrevocable
arrangements purchases of Ordinary Shares up to an aggregate value
of GBP5 million (including purchases already transacted since
announcement on 1 August 2016) will be made by Numis and Barclays,
including during any Company closed periods. Following completion
of the purchase of this GBP5 million tranche, the Programme will
continue to operate during open and, if agreed by the Company in
advance, closed periods up until the end of the next Annual General
Meeting of the Company in 2017. Numis and Barclays will make their
trading decisions in relation to the purchases of Ordinary Shares
in closed periods independently of, and uninfluenced by, the
Company.
Save as set out in this announcement, the terms of the Programme
remain as announced on 1 August 2016.
Daily volume restrictions and other trading restrictions will
apply in accordance with Articles 3 and 4 of the Commission
Delegated Regulation (EU) 2016/1052 of 8 March 2016. The Company
will announce any market repurchase of Ordinary Shares no later
than 7.30 a.m. on the business day following the calendar day on
which the repurchase occurred. The Company intends to hold Ordinary
Shares purchased under the Programme in treasury.
Barclays and Numis may undertake transactions in Ordinary Shares
(which may include sales and hedging activities, in addition to
purchases) in order to manage their market exposure under the
Programme. Barclays and Numis will make any disclosures they are
legally required to make in relation to such transactions.
Barclays, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority in the United Kingdom is acting for
the Company only and will not be responsible to anyone other than
the Company for providing the protections offered to clients of
Barclays nor for providing advice in relation to any matters
referred to in this announcement. Numis, which is authorised and
regulated by the Financial Conduct Authority in the United Kingdom
is acting for the Company only and will not be responsible to
anyone other than the Company for providing the protections offered
to clients of Numis nor for providing advice in relation to any
matters referred to in this announcement.
Enquiries
Trinity Mirror
Simon Fox, Chief Executive
Vijay Vaghela, Group Finance Director 020 7293
and Company Secretary 3553
Brunswick
020 7404
Mike Smith, Partner 5959
Will Medvei, Director
This information is provided by RNS
The company news service from the London Stock Exchange
END
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