FBD buys back shares
June 28 2006 - 11:00AM
UK Regulatory
RNS Number:3181F
FBD Holdings PLC
28 June 2006
PRESS RELEASE
FBD HOLDINGS PLC ("FBD" OR "THE COMPANY") BUYS BACK SHARES
IN
MARKET PLACING BY FARMER BUSINESS DEVELOPMENTS PLC
FBD announces that it has participated by way of a buy-back of its shares in
today's placing on the market by Farmer Business Developments plc. Of 4.5m
shares placed by Farmer Business Developments plc, the Company has purchased
3.8m. shares (10% of the issued share capital), the maximum allowable. The 3.8m
shares will be cancelled by the Company. FBD now has a total of 34.4m shares in
issue excluding Treasury Shares.
FBD has stated its commitment to maximise its capital for the benefit of
shareholders. The decision to buy-back the shares, which was taken in the light
of the purchase price and the positive impact on earnings per share, has
delivered on that commitment.
The principal shareholders in FBD Holdings plc, subsequent to the placing and
buy-back, are:
Farmer Business Developments plc 24.6%
FBD Trust Company Limited 8.7%
Free Float 66.7%
Commenting on the announcement today, Philip Fitzsimons, Chief Executive,
stated:
"Farmer Business Developments plc has been the largest shareholder in FBD
Holdings plc since the foundation of the Group and has indicated its intention
to continue as a strategic long term investor. In advising FBD of their
intention, Farmer Business Developments plc indicated that their decision was
influenced by an awareness that a reduction in their holding would enhance share
liquidity.
FBD acknowledges the supportive role that Farmer Business Developments plc and
its founding farmer shareholders have played since the establishment of the FBD
Group in the late 1960's and understands the rationale for reducing their
shareholding. FBD looks forward to a continuing positive relationship with its
largest shareholder".
ENDS 28th June 2006
For Reference: Telephone No
FBD
Philip Fitzsimons Chief Executive 00 - 353 - 1 - 4093208
Andrew Langford Finance Director 00 - 353 - 1 - 4093208
Murray Consultants
Joe Murray 00 - 353 - 1 - 4980300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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