WH Smith PLC WH Smith PLC Purchases of Shares - Open Period (3337Z)
17 May 2019 - 2:55AM
UK Regulatory
TIDMSMWH
RNS Number : 3337Z
WH Smith PLC
16 May 2019
WH SMITH PLC PURCHASES OF SHARES DURING OPEN PERIODS
WH Smith PLC (the "Company") announces that it has entered into
an arrangement with J.P. Morgan Securities plc, acting through its
UK investment bank ("J.P. Morgan Cazenove"). The arrangement allows
J.P. Morgan Cazenove to purchase, together with any other ordinary
shares in the Company (the "Shares") purchased on the Company's
behalf pursuant to its buyback programme, a maximum of 10,878,949
of its ordinary shares up to GBP25 million during the open period
of the Company arising between the date hereof and 31 August 2019.
These share purchases will be made on the Company's behalf and in
accordance with the arrangement.
Any share purchases effected pursuant to the arrangement will be
subject to the terms of the arrangement with J.P. Morgan Cazenove
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
GBP25 million. The sole purpose of these share purchases is to
reduce the Company's share capital.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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