Paragon Group Of Companies PLC Non-discretionary share repurchase programme (0858V)
January 25 2017 - 5:16AM
UK Regulatory
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 The Company confirms that it currently has no unpublished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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