Paragon Group Of Companies PLC Non-discretionary share repurchase programme (1076Q)
November 24 2016 - 9:53AM
UK Regulatory
TIDMPAG
RNS Number : 1076Q
Paragon Group Of Companies PLC
24 November 2016
The Paragon Group of Companies PLC:
Non--discretionary share repurchase programme
The Paragon Group of Companies PLC (the "Company") announces
that it has entered into an irrevocable, non--discretionary
programme with UBS AG to repurchase an amount of shares no greater
than GBP12.5 million during the period commencing on 25 November
2016 and ending no later than 31 January 2017. The shares so
purchased will be held in treasury, but may be cancelled
subsequently.
Any acquisitions will be effected within certain pre--set
parameters, and in accordance with both the Company's general
authority to repurchase shares and Chapter 12 of the Listing Rules
which requires that the maximum price paid to be limited to no more
than 105 per cent of the average middle market closing price of the
Company's shares for the 5 dealing days preceding the date of
purchase. The Company confirms that it currently has no unpublished
price sensitive information.
These arrangements are in accordance with the authority granted
by shareholders at the Company's Annual General Meeting on 11
February 2016.
UBS may undertake transactions in Ordinary Shares (which may
include sales and hedging activities, in addition to purchases) in
order to manage its market exposure under the programme. UBS will
make any disclosures it is legally required to make in relation to
such transactions.
Further enquiries:
Pandora Sharp, Company Secretary
0121 712 2075
This information is provided by RNS
The company news service from the London Stock Exchange
END
POSAKQDPQBDDKDB
(END) Dow Jones Newswires
November 24, 2016 09:53 ET (14:53 GMT)
Paragon Banking (LSE:PAG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Paragon Banking (LSE:PAG)
Historical Stock Chart
From Jul 2023 to Jul 2024