National Grid PLC Transaction in Own Shares (2416V)
August 06 2015 - 5:30AM
UK Regulatory
TIDMNG.
RNS Number : 2416V
National Grid PLC
06 August 2015
6 August 2015
National Grid plc
Share Buyback Programme
National Grid plc (the "Company") announces that it is
continuing with its existing programme to purchase ordinary shares
in the capital of the Company (the "Programme"). The Programme
forms part of the Company's continuing management of the dilution
resulting from the take-up of its scrip dividend.
Any purchases will be effected within agreed parameters and in
accordance with Chapter 12 of the UKLA Listing Rules. The purchases
will be effected under the Company's general authority to
repurchase shares granted by its shareholders at the Company's 2015
Annual General Meeting and during the period commencing on 6 August
2015 and ending on the earlier of 21 October 2016 or the date of
the Company's Annual General Meeting in 2016 which is scheduled for
25 July 2016.
The purchased shares will be held as treasury shares.
Details of the authorities granted at the Company's 2015 Annual
General Meeting can be found using the following link:
http://investors.nationalgrid.com/shareholder-centre/agm/2015.aspx.
CONTACTS
Investors and Analysts
Andy Mead +44 7752 890787 (m)
Michael Ioanilli +44 7789 878784 (m)
Victoria Davies +44 7771 973447 (m)
George Laskaris +1 917 375 0989 (m)
Media
National Grid
Chris Mostyn +44 (0)7774 827710 (m)
Brunswick
Mike Smith or Emma
Walsh +44 (0)20 7404 5959
CAUTIONARY STATEMENT
This announcement contains certain statements that are neither
reported financial results nor other historical information. These
statements are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include information with respect to National Grid's
financial condition, its results of operations and businesses,
strategy, plans and objectives. Words such as 'anticipates',
'expects', 'should', 'intends', 'plans', 'believes', 'outlook',
'seeks', 'estimates', 'targets', 'may', 'will', 'continue',
'project' and similar expressions, as well as statements in the
future tense, identify forward-looking statements. These
forward-looking statements are not guarantees of National Grid's
future performance and are subject to assumptions, risks and
uncertainties that could cause actual future results to differ
materially from those expressed in or implied by such
forward-looking statements. Many of these assumptions, risks and
uncertainties relate to factors that are beyond National Grid's
ability to control or estimate precisely, such as changes in laws
or regulations, announcements from and decisions by governmental
bodies or regulators (including the timeliness of consents for
construction projects); the timing of construction and delivery by
third parties of new generation projects requiring connection;
breaches of, or changes in, environmental, climate change and
health and safety laws or regulations, including breaches or other
incidents arising from the potentially harmful nature of its
activities; network failure or interruption, the inability to carry
out critical non network operations and damage to infrastructure,
due to adverse weather conditions including the impact of major
storms as well as the results of climate change, due to the failure
of or unauthorised access to or deliberate breaches of National
Grid's IT systems and supporting technology; performance against
regulatory targets and standards and against National Grid's peers
with the aim of delivering stakeholder expectations regarding costs
and efficiency savings, including those related to investment
programmes and internal transformation and remediation plans; and
customers and counterparties (including financial institutions)
failing to perform their obligations to the Company. Other factors
that could cause actual results to differ materially from those
described in this announcement include fluctuations in exchange
rates, interest rates and commodity price indices; restrictions and
conditions (including filing requirements) in National Grid's
borrowing and debt arrangements, funding costs and access to
financing; regulatory requirements for the Company to maintain
financial resources in certain parts of its business and
restrictions on some subsidiaries' transactions such as paying
dividends, lending or levying charges; inflation or deflation; the
delayed timing of recoveries and payments in National Grid's
regulated businesses and whether aspects of its activities are
contestable; the funding requirements and performance of National
Grid's pension schemes and other post-retirement benefit schemes;
the failure to attract, train or retain employees with the
necessary competencies, including leadership skills, and any
significant disputes arising with the National Grid's employees or
the breach of laws or regulations by its employees; and the failure
to respond to market developments, including competition for
onshore transmission, and grow the Company's business to deliver
its strategy, as well as incorrect or unforeseen assumptions or
conclusions (including unanticipated costs and liabilities)
relating to business development activity, including assumptions in
connection with joint ventures. For further details regarding these
and other assumptions, risks and uncertainties that may impact
National Grid, please read the Strategic Report section and the
'Risk factors' on pages 173 to 176 of National Grid's most recent
Annual Report and Accounts. In addition, new factors emerge from
time to time and National Grid cannot assess the potential impact
of any such factor on its activities or the extent to which any
factor, or combination of factors, may cause actual future results
to differ materially from those contained in any forward-looking
statement. Except as may be required by law or regulation, the
Company undertakes no obligation to update any of its
forward-looking statements, which speak only as of the date of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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