28th Jun 2006 15:00
FBD Holdings PLC28 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 intoday's placing on the market by Farmer Business Developments plc. Of 4.5mshares placed by Farmer Business Developments plc, the Company has purchased3.8m. shares (10% of the issued share capital), the maximum allowable. The 3.8mshares will be cancelled by the Company. FBD now has a total of 34.4m shares inissue excluding Treasury Shares. FBD has stated its commitment to maximise its capital for the benefit ofshareholders. The decision to buy-back the shares, which was taken in the lightof the purchase price and the positive impact on earnings per share, hasdelivered on that commitment. The principal shareholders in FBD Holdings plc, subsequent to the placing andbuy-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 FBDHoldings plc since the foundation of the Group and has indicated its intentionto continue as a strategic long term investor. In advising FBD of theirintention, Farmer Business Developments plc indicated that their decision wasinfluenced by an awareness that a reduction in their holding would enhance shareliquidity. FBD acknowledges the supportive role that Farmer Business Developments plc andits founding farmer shareholders have played since the establishment of the FBDGroup in the late 1960's and understands the rationale for reducing theirshareholding. FBD looks forward to a continuing positive relationship with itslargest 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 ExchangeRelated Shares:
FBH.L