Wincanton PLC Transaction in own shares (9218K)
13 July 2017 - 4:00PM
UK Regulatory
TIDMWIN
RNS Number : 9218K
Wincanton PLC
13 July 2017
13 July 2017
Wincanton PLC
('Wincanton' or the 'Group')
Transaction in own shares
Wincanton plc announces its intention to make purchases of its
own shares commencing today until 30 September 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 29 June 2017.
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
29 June 2017.
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 Tel: 01249 710 000
Adrian Colman, Chief Executive Officer
Tim Lawlor, Chief Financial Officer
Buchanan Tel: 020 7466 5000
Richard Oldworth / Victoria Hayns / Maddie Seacombe
Notes to Editors
Wincanton plc
Wincanton is the largest British logistics firm, providing
supply chain consultancy and solutions to some of the world's most
admired brands. We employ approximately 18,000 people across more
than 200 sites and have a 3,400-strong fleet of vehicles.
Our business started in 1925 delivering milk and dairy products.
Although our heritage means a lot to us, we have since expanded to
provide supply chain solutions across a wide range of sectors
including retail, construction, defence and energy.
As a trusted and respected business partner, we design and
implement services that range from setting up and operating
distribution networks through to bonded warehouses, technology
hosting, container transport and storage. We strive for operational
excellence in everything we do.
We work hard to understand and respond to our customers' needs,
build long term relationships and use our skills and expertise to
deliver a smarter, added value service, every day. Our customers
rely on us to make their businesses operate more efficiently and to
gain a competitive advantage in their sector.
Improved stock visibility and availability, reduction of lead
times, collaborative warehousing and transport models, and an
absolute commitment to continuous improvement, are just some of the
reasons why many of our customer relationships extend to more than
20 years.
Key facts:
-- Annual revenue in the UK & Ireland exceeds GBP1 billion
-- Circa 18,000 employees including 4,000+ drivers
-- Operates from 200+ locations with 6.6 million square feet of
warehousing across the UK and Ireland
-- Operating responsibility for around 3,400 vehicles
This information is provided by RNS
The company news service from the London Stock Exchange
END
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