Paragon Group Of Companies PLC Non-discretionary share repurchase programme (0858V)

TIDMPAG

RNS Number : 0858V

Paragon Group Of Companies PLC

25 January 2017

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 Jefferies International Limited ("Jefferies") to repurchase an amount of shares no greater than GBP25 million during the period commencing on 25 January 2017 and ending no later than 31 May 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 The Company confirms that it currently has no unpublished price sensitive information.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.

Jefferies 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. Jefferies 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

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(END) Dow Jones Newswires

January 25, 2017 05:16 ET (10:16 GMT)

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